CFI: News review
Recovery in real estate continues to gain ground
by
Guy Garrard,
head of business
development, Tiuta
We can, from time to time, get so consumed in our own industry that we forget about any external marketplaces which all have their own in- tricacies and nuances. So it was with great interest to note that the latest global commercial Property Survey (gcPS) from ricS provides further evidence that the re- covery in real estate markets around the world continues to gain traction. the survey shows that the number of
investment transactions rose compared with the fourth quarter of last year in all but a handful of markets and this increase in demand is gradu- ally translating through into stronger growth in capital values. it also shows that the oc-
cupier market is beginning to see a shift in sentiment al- though rents are still falling in the majority of countries cov- ered in the gcPS, reflecting the still hesitant nature of the economic recovery in many parts of the world. the clear leaders in the real
estate cycle from a regional perspective, according to the latest ricS results, are Latin america and asia. this is the
Lowry
Capital
case both from an investment and an occupier perspective and consistent with many of these economies proving relatively resilient through the credit crisis. Brazil re- corded the most positive net balance on rent expectations in the survey and was near the top in terms of capital value expectations. Hong Kong and china also registered strongly positive net balance readings for both of these forward looking in- dicators. Significantly, Brazil and Hong Kong were two of the four countries where re- spondents to the gcPS indi- cated that the available supply of property for occupation is not increasing.
So whilst tight credit re-
mains one of the main factors holding back the uS recov- ery, as with the uK market to some extent, it is good to see some kind of positive momen- tum returning to the world’s commercial markets. this is also reflected in the fresh op- timism surrounding the uK commercial market but whilst the indicators for the year ahead are good it’s important not to run before we can walk. Let’s hope this revival will continue in its momentum but history shows that caution also has to remain evident across all the markets as the repercussions for this not be- ing the case are certainly not ones that we want to revisit.
TM
Bridging Finance
mortgage introducer JUNE 2010 41
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