普华永道：2024年亚太地区房地产新兴趋势报告（英文版）

The series of quick-fire rate hikes initiated by the US Federal Reserve in mid-2022 has marked an end to the era of lowinterest-rate investing in place since the global financial crisis in 2008. In a sense, higher interest rates are simply a reversion to the mean, returning cost of capital to historical norms. At the same time, however, in the context of a market habituated to abundant supplies of cheap debt, rising rates represent a sea change in the way investors underwrite deals. The impac