Global cross-border investment in commercial property rose 56% to $71.8 billion in the first half of this year, according to property agency JLL. Growth was driven by increased activity in Asia and Europe, including renewed interest in premium offices. International investment in Asia quadrupled to $19.3 billion, while Europe recorded a 31% increase to $39.9 billion. Singapore led the global ranking with $8.7 billion in cross-border volume. Overall building transactions grew 10% year on year to $604.6 billion, according to MSCI. Fraser Bowen, a director in JLL's capital markets business, said higher borrowing costs could weigh on the rate-sensitive sector during the second half of the year.