(Bloomberg) -- Asia Pacific commercial real estate investment volume declined by 13% the three months ended in June compared with the previous quarter to $22.9 billion, according to data from researcher CBRE Group Inc.
Hong Kong saw the steepest drop of 54%, mainly due to an uptick in distressed assets and continued macroeconomic uncertainty.
Henry Chin, head of research in Asia Pacific at CBRE, said he expected further repricing this year, particularly in Hong Kong, mainland China and Singapore. He added that prices in Australia and New Zealand are now approaching the bottom.
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