Commercial Real Estate Prices Plunge 14% Amid Global Slowdown, But Some Optimism Emerges
• Property industry figures gather at Cannes conference seeking recovery signs amid falling prices • Commercial real estate values dropped 14% in 2022, the largest annual decline since 2009 • Investors waiting on sidelines to avoid realizing losses, hoping rates cuts will ease debt burdens • Alternative lenders at risk as they hold 20-30% of Europe's commercial property debt • Investor interest picking up, particularly from Middle East and Asia Pacific regions