JLL’s Global Real Estate Perspective May 2023

JLL | July 24, 2023

Subdued activity as uncertainty delays decision-making Economic conditions remain challenging in many countries with inflation still stubbornly high, interest rates continuing to climb and softening labor markets, while distress in the banking sector has added to volatility. This is leading to more defensive strategies from occupiers as they delay requirements. Continued uncertainty and elevated borrowing costs are also impacting investor sentiment and inhibiting transaction markets. The effects of economic headwinds on the office sector increased during the first quarter, with global leasing volumes 18% below Q1 2022 and declining across...