Savills revised its projected total investment sales value for 2023 to reach $19b to $21b from the previous forecast range of $24b to $25b on the back of the current global political environment.
Large ticket items may still be transacted for the rest of the year or up to the first half of 2024 but its likelihood is lower than the pre-pandemic period, with institutional investors seeing retrenchment in deals. He noted that interest rates will probably start declining next year and the global economy will grow, making investors “conclude that the bottle is half full rather than half empty.”
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