Mark Steffen of Wells Fargo Investment Institute presents a comprehensive view of the current housing market in the "Investment Strategy Report – Alternatives Spotlight". Despite the increased activity in new-home construction and a positive sentiment among homebuilders, housing affordability is
The US Commercial Real Estate (CRE) market is grappling with the repercussions of rising interest rates, tighter lending conditions, and economic uncertainty. These factors, compounded by the fear of a looming mild recession, are impacting transaction volumes and investor sentiment.
In the face of the 'Great Reset', there are promising opportunities in the public markets, especially in Mexico's industrial properties, student and senior living sectors, grade A offices adhering to ESG criteria, and tourism-driven real estate. The ongoing correction in
The article "Nearshoring in Mexico: Mirage or the real deal?" delves into the concept of nearshoring, where production and services are moved closer to their final markets, focusing on Mexico's potential as an attractive nearshoring destination. The author outlines the
Schroders' "Climate change and cities: Adapting real estate investment decisions" advocates for a novel approach in assessing physical climate risk, urging the real estate sector to infuse this aspect into their financial decision-making. The research posits that an innovative blend
Allianz's article, "Eurozone commercial real estate – selectivity matters!" illuminates the complex state of the commercial real estate sector under the influence of financial tightening. This sector, previously thriving in a low-interest-rate environment, now confronts cyclical challenges like economic slowdown,
In the midst of a challenging investment environment with macroeconomic volatility, inflationary pressures, increasing interest rates, and the likelihood of a recession, the life sciences sector stands out. Despite a softening performance outlook for most asset classes, private real estate,
The text's main theme focuses on the relationship between real estate and the economy during periods of rising rates, discussing commercial and residential real estate prices, and their impact on GDP during past recessions. The analysis is based on the
The report emphasizes the appeal of emerging markets over developed ones, citing the high valuation of the U.S. market as a reason for closing the gap with other developed regions. The author also highlights the attractiveness of fixed-income assets, as
In het rapport "Samenvatting ontwikkelingen Q1 2023" van NVM Business wordt de terugval in de opname van kantoor- en bedrijfsruimte benadrukt. De kantorenmarkt kampt met een vraaguitval, terwijl grootschalige opnames (logistiek) zijn weggevallen in de bedrijfsruimtemarkt. Aan de andere kant
UBS quarterly report shows private markets had lower volatility in returns, encouraging increased allocations to alternatives, and a preference for sustainable investments is likely to continue with new regulatory requirements, pointing to tailwinds for sustainability themes in private market investments.
• German stagnation—rising insolvencies? German business insolvencies are rebounding albeit from a low level. • US real estate—trouble (still) ahead? Some housing market indicators have stabilized, but downside risks continue due to weaker domestic activity. The outlook for commercial real
Market Update A Monthly Performance Report February GPR 250 Index falls 2.3% in February 2023 February 2023’s market action was a reversal from January 2023’s. The GPR 250 Index declined (-2.3%) in the calendar year’s second month, in sharp contrast
Key takeaways China’s reopening could be a positive catalyst for depressed equity valuations The property market will likely become a smaller part of the economy longer term China’s video game platforms, payment systems and e-commerce have been areas of tremendous
US commercial real estate performance is responding to higher interest rates and prospects for a weaker economy in 2023. The impact affects the demand for space as shown in absorption, vacancy rates, and rent growth along with the valuation of
Beleggen in Europees vastgoed met toegevoegde waarde in een tijd van volatiele activaprijzen, stijgende rentes en vertragende economische groei. Beleggers beleven een periode van verhoogde marktvolatiliteit. Niemand weet precies waar de activaprijzen naartoe gaan – of het nu gaat om
Naarmate de opwarming van de aarde voortduurt, moeten steden zich aanpassen aan een frequenter voorkomen van dodelijke hittegolven en moeten ze investeren in nieuwe technologieën en innovatie. Madrid en Miami worden vaak tot de beste steden ter wereld om in
An Examination of Underwriting Metrics and Losses Through 60 Years of Economic Cycles. Commercial mortgage loans (CMLs) have become an important component of private investment portfolios over the past 30 years. Interest in commercial mortgages began growing as the sector
The economy was mixed over the summer with GDP contracting for a second consecutive quarter while labor markets continued to exhibit strong growth. The risks that we outlined in our Spring 2022 Outlook have become more acute, in our view,
CROSS ASSET Investment Strategy While a global recession may be avoided, we are likely to see growth deceleration and high inflation (higher cost of living) along with regional divergences. Thus, investors should consider moving to a more cautious stance on
Nu de vastgoedsector steeds meer wordt aangesproken op het verkleinen van zijn enorme ecologische voetafdruk, is modulair bouwen weer in de mode. Het is groener, sneller en efficiënter. Modulaire bouw is niet nieuw. In de negentiende eeuw verscheepten Britse immigranten
In our previous outlook, we encouraged investors to tune out “noise” and focus on “signal” — economic and asset class fundamentals evidenced in hard data. We continue to endorse this approach, but acknowledge that even the most diligent followers of
Overview It gives me great pleasure to introduce our ninth Secular Outlook. T he next five years will be an uphill struggle for investors. High public and corporate debt levels, labour shortages, potential tax hikes and increased levels of state
US CRE MARKET INSIGHTS June 2022: First quarter US CRE investment performance reported by NCREIF’s National Property Index (NPI) offers a continuation of the extraordinary total returns produced during 2021. Total return for the year ending March 2022 reached a
Mass market residential housing is in structural undersupply. As such, it is a defensive sector. It is not immune to supply chain or inflation risks. The sector has seen inflation in construction costs. To date, these costs have been absorbed
Private markets rebounded in 2021, after a year of pandemic-driven turbulence that suppressed fundraising and deal making. Fundraising climbed to a record of almost $1.2 trillion, up by almost 20 percent over 2020. Growth was widespread across asset classes and
Inflationary pressures will likely peak but not disappear Inflation, once thought transitory, now appears more durable. Supply-demand imbalances, while an expected aspect of the economic cycle, have been exacerbated by the unprecedented nature of pandemic shutdowns. The workforce remains constrained
Olaf Sleijpen – DNB – Shared Value conferentie, 5 april 2022 De presentatie bestaat uit drie onderdelen: 1. Eerst wil ik samen reflecteren op de recente ontwikkelingen op de Nederlandse woningmarkt. 2. Daarna wil ik inzoomen op de risico’s voor
Real Estate Outlook – Edition 1, 2022 The economic recovery continues, albeit interrupted by Omicron, and the war in Ukraine poses a new risk. Global real estate volumes reached a record high, driven by domestic buyers. Falls in office and
Alts in aggregate Real estate Infrastructure Private Markets Hedge funds
In our annual look into the year ahead, our research team gives answers to some of the key questions that real estate investors face. A year ago, the impact of COVID-19 vaccines was at the forefront of everybody’s minds. Our
As we look to 2022, we see REITs well positioned to serve an inflation hedging role while benefiting from a continued recovery in operating fundamentals and above trend economic growth. We see earnings growth as the primary driver of share
Commercial real estate (CRE) investment performance for US properties soared in the third quarter as unlevered total return reported by the National Council of Real Estate Investment Fiduciaries (NCREIF) registered 12.1% for the four quarters ending September 30, 2021. This
Recovery, risks and relationships Looking back over the last couple of years, it seems that while so much in our world has changed, much has remained the same. Yet we’ve learned a few lessons along the way. We seem to
2021 was a standout year for UK real estate, which delivered annualised total returns of 14.7% to the end of October, as robust income returns were complemented by the return of capital growth. This represents the highest level of annualised
US CRE Market Insights: Commercial real estate (CRE) investment performance for US properties soared in the third quarter as unlevered total return reported by the National Council of Real Estate Investment Fiduciaries (NCREIF) registered 12.1% for the four quarters ending
Executive summary Many aspects of investing are fundamentally rooted in the idea that total investment return includes both investment income and investment price appreciation (growth). Nearly every asset class can be decomposed into these two characteristics—some assets being composed mostly
INTRODUCTION In the year that followed the onset of the global COVID-19 pandemic, there was an unprecedented surge in construction costs. Nationwide, building materials rose at the fastest pace in a decade from March 2020 to September 2021 (Figure 1).
Real Estate Outlook – Edition 4, 2021: The global economy slowed in the third quarter, hit by a combination of supply chain constraints and the Delta variant of COVID-19. Business surveys reported that manufacturing production is lagging behind orders as
As European economies have started to recover from the pandemic, there is a clear upturn in confidence among property industry leaders although many are still coming to terms with the radical changes to the business of real estate brought about
In the year that followed the onset of the global COVID-19 pandemic, there was an unprecedented surge in construction costs. Nationwide, building materials rose at the fastest pace in a decade from March 2020 to September 2021 (Figure 1). Many
CIO View October has seen new record highs and record returns Events were less friendly to bonds, as inflation fears are prompting central banks to act sooner than expected Many investors are hopeful of the traditional year-end rally, but the
House View Q4 2021 The course of economic recoveries and expansions never runs completely smoothly. Businesses need to adjust to the changing environment and are just as likely to be surprised by the strength of demand as by any unexpected
Beijing’s policy actions in the property sector seem to be containing any potential contagion effect. KEY INSIGHTS We are confident that there will be a well‑managed deflation of the debt balloon in the real estate sector and that Evergrande’s troubles
If the world is to avoid more destructive climate change over the coming decades, every industry must change how it operates and strive to reach net zero carbon by 2050, in line with the 2015 Paris Agreement. Given that buildings
Multi Asset Quarterly: Economic outlook The economic normalization continues, although at an uneven pace following the long Covid-related shutdowns. Further severe lockdowns look unlikely in most Western countries. Supply chain bottlenecks are blurring the near-term macro visibility. Inflation numbers have risen
CIO Views Markets responded to mixed data from the US and China and to the potential tapering from central banks. We are also seeing inflation (energy and food) and a deceleration in China. As a result, while staying neutral on
Building a sustainable portfolio.The property industry is the largest emitter of CO2. By making buildings more sustainable, we can help the environment and boost returns. Investors are waking up to the fact that sustainable investing isn’t just good for the planet
Investors cite inflation hedging power as one of the primary attractions of property investments.2 This characteristic has been of limited use in recent years given the very low pace of inflation in the US and throughout most developed global markets
Real estate is often a building block within the investment portfolios of institutional investors. As with other asset classes, there are times when real estate is over- or undervalued. In this article, we investigate the use of an econometric model
