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    Cross-border capital investment across global commercial real estate markets

    2025-07-31T13:42:00Z

    While the majority of global real estate transactions in the most liquid real estate markets are by domestic investors, cross-border capital flows where the capital source isn’t the same country as the asset purchased, are also significant. Due to the recent shift in US tariff policy, cross-border investments into the US are being delayed or deferred. Since the US is the largest global commercial real estate (CRE) market, accounting for 38% of global transaction activity in the past 10 years, if capital flows are reallocated away from the US, how might this impact other key global real estate markets? (We also look at the implications on US commercial real estate liquidity and pricing in our companion piece, “Cross-border capital investment in U.S. commercial real estate”.)