Global commercial real estate investment in the second quarter fell 57% year over year to $109 billion, the lowest quarterly total since 2012, according to CBRE's latest "Real Estate Capital Flows" report.

Fewer portfolio sales in the Americas drove a 69% drop in investment, the sharpest regional decline in activity in the quarter. Investment declines were also reported in Europe, the Middle East and Africa, down by 38%, and Asia-Pacific, down by 46%.

Cross-border investment volume fell by 52% compared to the same quarter last year. Singapore was the top destination for foreign capital in the second quarter, followed by London and Hamburg. But on a trailing twelve-month basis, Paris remained the top destination for foreign capital.

Global retail and office yields edged higher, while industrial yields remained level. Yield spreads widened further on falling global bond rates.