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Foreign exchange movements played a significant role in both growth and strategy over the year, attracting more investors towards the USA while also diluting volume growth measured in other currencies. According to RCA, while global volumes fell 2% in US$ terms, in euros there was a gain of 17%.
This distortion was most apparent for Europe, with EMEA volumes flat in dollar terms but 23% up in euros while North America saw the fastest growth measured in any currency. In Asia meanwhile, in US$ or euro, with or without land, the region was down as past policy tightening impacted, together with concerns over slowing growth in China and, in many cases, a lack of affordable investment opportunities.
Source : Cushman & Wakefield
