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 Turkey has always been on the investor radar due to benefitting from its population - 2nd most populated in Europe and 2nd highest growth country in 2011 in OECD -, impressive economic growth and strategic importance as being one of the powerful players in the world. The political stability and economic progress achieved during the last decade under the AKP government has uplifted Turkey… |
 In our autumn 2011 house view we stressed that there remains diverse economic performance both across countries in Europe and also within individual countries. Key centres are continuing to show stronger growth than the national levels would imply. Real estate asset performance is driven by local factors and on-the-ground specialist knowledge offers significant risk mitigation. |
 The Turkish economy’s strong post-crisis recovery continued in the first half of 2011, supported by implementation of monetary, fiscal and revenue policies. As a consequence of policies pursued against the global crisis and the resilience demonstrated by the economy, the country’s credit ratings have been increased by credit rating institutions. Turkey’s risk premium indicators have fallen... |
 Despite sluggish progress in the global economy and the increasing oil prices, the Turkish economy is entering the second quarter of 2011 with strong growth and recovery. According to statistics published for the last quarter of 2010, Turkey’s GDP increased by 9.2% compared to the same quarter of 2009. The annual GDP growth rate is 8.9%, the highest rate among all European... |
 The Turkish Economy recorded one of the highest growth rates among OECD countries in 2010. Retail spending and consumer confidence returned to pre-crisis levels. Retailer demand accelerated in 2010, with limited implications on rent levels. Occupier demand in the office market recovered in 2010 and rental growth is likely to return in 2011. Investment activity remained limited… |
 2010 saw a significant amount of new office space being added to market. However, occupier activity remained subdued, pushing up vacancy levels across Belgrade. Demand for prime logistics space continues to grow in and around Belgrade. However, the market remains relatively under developed, hampering growth in this sector. Once the economy picks up again, strong interest in the development of logistics schemes is expected. Whilst demand for retail space remains strong, the fierce competition for the best pitches has decreased somewhat in 2009 - 2010. |
 2010 was challenging for all real estate market players in Latvia. It was an inevitable test for everyone. Those who have managed to survive, learned and adapted to the current market reality and will continue to operate and further develop in an easier Latvian real estate market. Analyzing 2010 and forecasting 2011 there is one conclusion which can be said with certainty - the real estate market is stabilizing. |
 The REIDIN.com Turkey Residential Property Price Indices (TRPPI), supported by GARANTI, is designed to be a reliable and consistent benchmark of housing prices in Turkey. The purpose is to measure the average differences in house prices in a particular geographic market. The monthly REIDIN.com TRPPI uses a stratified median index approach for index calculation with data... |
 In 2009 Turkey ranked seventh in the number of foreign tourists arriving and left Germany and Mexico behind. In revenues, it rose one step higher than the previous year and became the nineth. The tourism revenues of Turkey in 2008 was recorded as US $21.9 billion. The number of foreign tourists arriving in Turkey in 2009 was 25.5 million. Mugla, located on the southwest of the Aegean Region... |
 The Turkish retail market portrayed a significant recovery in Q3 2010 in line with the economic recovery. The retail market registered a GLA growth of 560,000 m² during January-September of 2010. This represents almost a 150,000 m² increase over the same period in 2009. Most of the GLA growth in 2010 has been realized in Anatolia with GLA growth of 420,000 m². This compares to... |
 It is largely accepted that the worst is over in the Turkish industrial market as the improving economic situation begins to filter down to the market, although progress is slow. Prime rents are stabilizing against a lack of quality space although secondary rents are under downward pressure as occupiers upgrade and release unwanted space. Increased interest is being seen… |
 This is a year of enormous buyer interest in Turkey. The case for residential investment in Turkey is examined in a new Global Property Guide report, sponsored by Experience International. Property values tend to appreciate in countries which have sound macro-economic management, falling interest rates, growing mortgage markets, and a background of rapid economic growth and rising tourist interest. |
 The recovery in European commercial property markets has continued into the first half of 2010, with falls in prime yields across Europe becoming more widespread, while prime rental levels are also beginning to stabilize. Nevertheless, there has been a slowdown in the pace of prime capital uplift in the more mature, responsive markets such as the UK and France, and since Easter, increased risk aversion towards more secondary property in particular. |
 In the global real estate space covered by SNL, discount to NAV increased in August, moving 110 basis points to a discount of 13.4% from a discount of 12.3% in July. Canadian real estate companies led global NAV premiums, with a 6.0% premium to NAV as of August 31, down 10 basis points month over month. Belgian real estate companies also ended August trading at a premium to NAV, at 2.3%. |
 The Turkish Economy going into Q3 2010 is on a strong track of growth and recovery, however challenges remain. The results of Q1 2010 showed an increase in GDP of 11.7%, the highest in Europe and second in the world to China. Turkey’s economy began to show signs of recovery in Q4 2009, with a dramatic increase in GDP growth in Q1 2010. |
 After achieving the best result in Europe with GDP at the level of 1.8% in 2009, Poland has maintained its position as a leader recording further growth in H1 2010. The Polish economy is developing in sustainable way, which influences its favorable position in comparison to euro zone countries. |
 As we move into the second half of 2010, we see signs of recovery in the office market. Due to the nature of Turkey’s business environment, the A class office market is concentrated in Istanbul. On the back of the recovery from the economic crisis, we are observing an increase in tenant demand. In the last two years, lease transactions were at a minimum, with only... |
 2010 should have been the stabilization period for the Czech Republic. The main macro indicators for the first half of the year are in line with those expectations, however, the local economy is still weak and too much dependant on external factors that could have a severe impact on the economy. |
 Albania, even in the current conditions has a new kind of visitor – the Real Estate Investment Tourist as we like to call the foreign private investors, family offices, Real Estate fund managers, Hedge funds and others looking to buy into the Albanian property market. |
 As it was in 2008, 2009 was a year of retraction in Portuguese real estate market. This report provides solid data on key issues such as identifying the prime locations in Portugal for luxury residential tourism real estate and the price level and trends for this type of property. |
 The letting activity in Ile-de-France remains moderate but the signs of recovery are strong in Paris where demand has doubled in the space of 12 months. In the CBD, some deals have again crossed the threshold of €800/m²/year. After six months of moderate growth, the French economic recovery has tailed off... |
 In line with the comparably positive mood in the economy, the consumer confidence index has followed an inclining path since the beginning of 2010. The index rose from 78.8% as of December 2009 to 86.6% as of May 2010, approaching the pre-crisis levels. The manufacturing sector also benefited from this improvement as the real sector confidence increased from 92.2% in December 2009 to 115.1% in May 2010... |
 Europe’s escalating sovereign debt crisis may dent rental prospects for commercial property and postpone a recovery in the hard-hit sector, a management board member of Germany’s Dekabank said on Wednesday. “We’ve just seen that pricing was close to the bottom; we... |
 Office markets show a strong relationship with changes in the general economy. As European economies slowly start to recover from the recession that hit the global economy in 2008 and 2009, office markets are expected to follow in their path. However, the severity of the economic crisis and the measures taken... |
 Georgia, as opposed to many countries in the CIS, managed to undertake major institutional reforms and presents an attractive and business-friendly investment climate, taxation regime and approval system. The retail property market in Tbilisi remains extremely immature and fragmented by western standards. |
 The most recent findings of the monthly King Sturge Real Estate Economy index shows that the sentiment is generally upbeat, and that the actual situation is indeed turning around. The pollbased sentiment indicators gained again, some of them substantially, reaching peak values not seen... |
 Prime, prestige, luxury – all labels applied to the top end of the residential property market in different parts of the world. While the names may differ, the desire of High Net Worth Individuals to own and invest in the best property is ubiquitous around the globe. As we discover in our focus on prime... |
 The European listed property sector slipped by -0.5% last month, according to the GPR 250 Europe Index. Several countries recorded negative returns with Norway (Norwegian Property; -15.7%) reporting the biggest loss, followed by Poland (GTC; -13.3%), Turkey (Is REIT; -8.5%), France (-3.3%) and Finland (-1.6%). |
 European property investment markets have begun to recover and the majority of European countries have now emerged from recession. Prime property capital values have now started to rise in...
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 Reflecting the difficult financial climate, investment activity in Brussels suffered in 2009. The total value of sales transactions was below €500 million, with half of this amount invested for owner occupation. The Leopold District...
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 The latest Global Commercial Property Survey from RICS confirms that an investment led property recovery has spread to a wider number of real estate markets. Investor transactions are now rising across 70% of markets up from 40% in Q3 with Brazil and China topping the table. Confidence towards lettings over the next three months has picked up across... |
 The GPR 250 Index is a total return index that covers the 250 most liquid property companies worldwide. The GPR 250 Index is a daily calculated index based on free float market capitalizations, and incepted December 1989. All figures are based on the GPR 250 Index in local currency. |
 The use of buildings needs to be appropriately managed if the carbon footprint is to be lowered. There needs to be a coordinated approach making the best use of the building and its technologies to obtain the best value. Re-using our towns and cities is is the major challenge for the next decade. The easy days of ever rising capital values and plenty of debt to finance new build are... |
 Activity in the transaction market has improved from the very low levels seen in the first half of 2009, although is still low compared to previous years. Debt financing is gradually becoming more available, and banks are demanding somewhat lower margins, compared to earlier this year. |
 An unprecedented level of global government support designed to restore liquidity in the credit markets and stimulate demand has effectively halted an economic free-fall. Monetary policy and strong investor demand have fueled $1.3 trillion in capital raises by financial institutions alone. Global corporate debt and equity... |
 Amidst continuing economic troubles throughout the region and weak office demand, the EMEA vacancy rate rose to 9.7% at mid-year 2009. This marks an increase of almost 2 full percentage points during the first six months of the year and brings EMEA vacancy to its highest level since 2004. The rise in vacancy was... |
 Throughout the first half of 2009, the real estate market in Turkey has been trying to follow the global trend of stabilizing prices and slightly increasing demand in the driving sectors, such as residential. The stagnant investment market, which was everyone’s nightmare during the second half of 2008 is beginning… |
 The current climate of economic and financial instability and slow growth has not diminished Turkey’s status as one of the world’s strongest emerging economies. Turkey’s economy is currently the 17th largest in the world. After a long period of continual economic growth, Turkey’s GDP declined 13.8% in Q1… |
 The summertime period apparently has a good impact on the property stocks’ performances, given the 7.6% gain for the GPR 250 Index. At continental level, there were no losses and total return performances ranged from 2.5% for Oceania to 11.2% for Europe. At national level, China was top performer ... |
 There has been a further deterioration in European economic prospects over recent months. The collapse in world trade in the last year has hit the Continent hard, with double-digit declines in exports recorded in 2009Q1. More recent data suggest a moderation in the rate of contraction during Q2... |
 Retailer demand has slowed down leading to temporary rent incentives. Retail turnover is still seeing real growth, partly due to discount campaigns. Consumer confidence is picking up. Occupier demand for the office market has slowed with some occupiers relocating to less expensive rent sub-markets. Strong development continues |
 June 2009 saw the first increases in average asking rents in the UK since August 2008, providing further evidence that the rental market is experiencing a recovery. The rise of 0.5% month-on-month, equivalent to £4 pcm increase on the average rent, was admittedly modest; however, this month's price increase continues the trend of gradual improvement recorded over the past quarter. |
 The Polish retail market has witnessed a significant growth in modern retail stock for the past 16 years. The first shopping centers were opened in Poland in 1993 in Warsaw and since then the market has been continuously growing in terms of quantity, quality, dimension and location within the country. |
 At the beginning of 2009 there was around 4.7 million m² of modern office cities located in Warsaw and seven major regional cities. The largest and the most established market is Warsaw. However, when comparing with other European capitals, Warsaw is still behind the mature markets. |
 The recession dominated the sector in the Istanbul office market in the beginning of 2009. Towards the last weeks of the first quarter of 2009, movement started in the office sector again. The major reason behind this movement in the office sector is the restart of the search for a new place of those, who wanted to turn the financial crisis into an opportunity, who had decided to move… |
 As the global economic slowdown gathered momentum throughout 2008 and into 2009, its negative impact on commercial property markets across the world has gained force. While the world’s major financial centres such as New York and London were among the first to show the effects of the slowdown, its influence...
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 Welcome to King Sturge’s eighth annual European Industrial Property Markets report, which looks back on 2008 and provides a forward view on the prospects for Europe’s industrial property markets for 2009 and 2010. |
 International expansion of retailers to new markets continued apace during 2007 and 2008, with over 500 movements tracked by Jones Lang LaSalle. This new report examines the continuing strength of cross-border retailing in Europe and explores the reasons why we believe 2009 will still be a year of opportunity. |
 Buildings are at the core of the European Union’s prosperity. They are important to achieve EU’s energy savings targets and to combat climate change whilst contributing to energy security. |
 2007 was the year of the credit crunch. 2008, the year of the bail-out after the crunch. 2009 will be the year of the squeeze, the real pain for the retail property market. Recovery is unlikely to take root until 2010. |
 Activity across all sectors of the commercial property market fell further in England and Wales in the third quarter, with all but one of the headline indicators deteriorating. |
 Jones Lang LaSalle’s World Winning Cities research program seeks to identify the rising urban stars across the world’s emerging real estate markets. Turkey is a key focus in 2008. Click here for the full report. |
 Despite its size, Macedonia offers different real estate development opportunities. This report provides an independent information tool for real estate players interested in the Macedonian market. This is the very first publication on this subject in this country. More… |
 Since mid-2007, European office markets have experienced their leanest period for five years. The onset of the global credit crisis last August marked the shift. Twelve months on, the underlying financial strains remain and Europe is bracing itself for the full economic impact. Download Report |
 A number of office and industrial property markets reported a slowing down in leasing transactions in the first half of 2008, triggered by a combination of the credit crunch,weakening global economy and a lack of positive occupier sentiment. Download Report |
 Despite the rising tension in domestic politics before and during the elections, the primary mover of the Turkish economy has continued to be the global economic dynamics in 2007. Volatility in financial markets and its repercussions on real economic activity has come as a result of global economic turbulences. Click here for the full report. |
 Within the European investment market, we are seeing a resurgence of new buildings on the market at the beginning of autumn 2008, due to more entities being forced to adopt a selling strategy. Click here for the full report. |
 The Baltic and Belarusian markets are continuing to mature and develop each at their own level. This, of course, means the players are being forced to change, creating opportunities for those ready to seize them. Click here for the full report |
 Global Property Research launches the GPR General Emerging Markets Index, set up to track the performance of listed property stocks active in emerging markets. The newly developed index is a full market cap-weighted index comprising all property companies worldwide that meet the GPR eligibility criteria. More... |
 Real estate is considered, like gold, as inflation protection. Compared to other investment forms, particularly shares, the actual value of real estate should not decrease even with a strong rise in prices. Click here for the full report. |
 A number of office and industrial property markets reported a slowing down in leasing transactions in the first half of 2008, triggered by a combination of the credit crunch,weakening global economy and a lack of positive occupier sentiment. |
 The credit crunch and slowing economy halved commercial property sales in H1’08 compared to H1’07, when neither were yet a factor. Click here for the full report. |
 The world economy is being hard hit by the recent credit crunch with high oil prices fueling this crunch. However, Dubai’s real estate market is still bucking this trend. More… |
 It’s been a roller-coaster 12 months. Prime property values rose 11% during 2007 as global capitals, emerging markets and prime sunbelt areas shone through the credit storm. |
 By the end of 2007, as the credit crunch spread to all corners of the capital market, the downward re-pricing of commercial real estate assets had begun. The transparent nature of the UK market has been quick to reflect this.
Click here for more information |
 Budapest, the Hungarian capital.Hungary joined the European Union in 2004 and is now part of a broader market that includes 490 million people, offering new opportunities to foreign investors as well as local companies. In its report ‘Hungarian Commercial Property Market 2007’, King Sturge gives an overview of all commercial property sectors in Hungary, detailing rents, land values and investment. Click here to read the full report. |
 What do South Seas islands, increasing commodities prices, the subprime crisis and calls for more protectionism have in common at this age of globalisation? Well, they are all united in their search for the right path to deal with a new power in the investment spectrum: sovereign wealth funds. Read more about this topic in the current Real Estate FOCUS ‘Sovereign Wealth Funds and their meaning for global real estate investment markets’ by DEGI Research. Click here for more information |
 A large part of the Spanish investors continue to diversify their assets and spread them out among the principal European cities where, in many cases, they are purchasing properties with high yields and long-term leasing contracts. Due to the financial crisis, 2008 will be a positive year for those investors who can carry out transactions using their own equity. |
 The much-awaited slowdown in residential rent increases has finally begun in Dubai. Based on its Quarterly Residential Report, Asteco – UAE’s largest property services company, observed no significant changes in Dubai’s annual rents when comparing this year’s first quarter annual rental rates over the last quarter of 2007. |
 Following the record result on the German property market (+12% y.o.y.) totalling €15.5 billion for retail property transactions in 2006 – the Karstadt Portfolio included – one assumes a further increase for 2007 as a consequence of very favourable market conditions. This reveals from the ‘Direct Market Report German Retail’ by PETERCAM. More... |
 Jones Lang LaSalle (NYSE: JLL), real estate advisers, has announced the release of the Czech and Slovak edition of the Retail Leading Cities report series. Michaela Zvadova, Head of Retail for Jones Lang LaSalle in the Czech Republic & Slovakia, reports: “The Czech Republic and Slovakia have been and are continuing to experience strong economic growth which translates into a very healthy environment for retail."
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 King Sturge has released the latest edition of its yearly Airport Property Market Survey report. The report comments on European airport property markets and the demand for commercial property, as well as addressing some of the issues influencing the future growth of the air transport industry at UK, European and global levels. |
 King Sturge has released its European Retail Property Markets 2008 report. The Report, officially launched at MAPIC, explores the opportunities for retail property investment in Europe, particularly in the light of the anticipated slowdown in the market. Although some degree of correction was inevitable after many benign years, the fundamentals that underscore the pan-European retail property market remain very positive. More » |
 Tenant demand for commercial property was pulled down by a weak retail sector as surveyors watched investors shun the market, says RICS’ Commercial Property Survey published on Friday November 16th, 2007. More... |
 PEGA in alliance with Jones Lang LaSalle has presented the October 2007 edition of the Istanbul Real Estate Market Report. The report outlines the Turkish economic situation and gives an extensive overview of the Istanbul property market, highlighting development projects and important transactions in various real estate sectors. Click here to read the full report. |
 France’s logistics corridors and distribution hubsProLogis (NYSE: PLD) has released a new research report on the state of the logistics property markets in France. The report, entitled ‘France's Logistics Property Markets - Distribution Gateway to Southern Europe’, investigates the sweeping logistics revolution taking place in Europe and its impact on the French logistics property markets. Click here to read the full report. |
 The FTSE EPRA/NAREIT Global Real Estate Index picked up for the third consecutive month in October. The index gained 80bps further recovering ground lost mid-year. Global equity markets (+150bps) headed up, while the bond market added 70bps. Click here to read the full report. |
 In the last three months the office market Düsseldorf was so active that it was able to break two records at the same time for letting. The 149,000 m² of office space let during this period in the Düsseldorf area exceeds on the one hand all previous quarterly results and almost equals the figure reached for the first half of 2007 (ca. 151,000 m²). On the other hand Düsseldorf has therefore achieved an office space take-up of ca. 300,000 m² between January and September of the current year, which is also an outstanding performance never reached before within this time period. Besides this around 58 % (ca. 110,000 m²) more was let than in the first nine months of last year. Click here to read the full report. |
 The latest research publication from King Sturge entitled “Poland: Regional cities office markets overview” is released at a time when there is strong interest from both investors and occupiers in cities other than Warsaw. Occupiers involved in Business Process Outsourcing and other blue-chip companies look for cost effective solutions to large office requirements outside the polish capital. In addition, investors and developers look for opportunities in the regional office markets where vacancy rates are low and there is a growing need for urban regeneration. Click here to read the full report. |
 King Sturge has released the 2007 edition of its Romanian Market bulletin. This bulletin highlights the following key findings: exponential growth drives larger deals
office rents rising rapidly
retail sector activity increasing rapidly
logistics development doubled
€1bn invested – yields down to Western European levels
Click here to read the full report. |
 Continued credit slowdown and more tightening in Latvia will lead to Baltic soft landingCentral and Eastern Europe will remain economically strong over the next couple of years despite weaker global demand. High domestic demand will continue to permeate the region. But rapid consumption and investment growth will be slowed somewhat by higher interest rates and more cautious lending: the latter partly as a consequence of global credit market turmoil. The overheated economies of Estonia and Latvia will undergo a soft landing, SEB maintains in a new issue of Eastern European Outlook. Click here to read the complete report (PDF). |
 Europe is under-represented in the global listed property and REIT markets with 22.7% of the world's listed property despite having 42.3% of the world's €12 trillion commercial property market. The introduction of REIT legislation will be a key catalyst in the development of listed property markets, says JPMorgan in its latest ‘European REIT development’ report. Click here to read the full report. |
 For several weeks now, the financial crisis has kept the international business community on the edge of their seats. Many banks, especially Anglo-Saxon investment banks are clearly acting more reticently as a result of their financial policy shift. Yet, we are not anticipating permanent negative repercussions for the commercial real estate market. After all, professional investors will not let themselves be intimidated by recent developments, but will continue to acquire interesting objects with a sound cash flow. Click here for the newsletter |
 The FTSE EPRA/NAREIT Global Real Estate Index picked up in August. The index gained 3.3% recovering ground on the back of a number of poor months. Global equity markets (+20bps) crept up, while the bond market added 1.3%. The three real estate regions were all ahead during the month. Europe (+2%) and North America (+6.5%) were the main focus of buyers attention. Asia-Pacific advanced 80bps during the month. Year to date the Asia-Pacific region is 7.1% ahead. Both North American (-9.9%) and European (-15.3%) stocks remain behind in 2007. Click here to read the full report. |
 Buy-to-let investors returned to the market as rental growth reached record levels. Tenant demand for rental property has been boosted by declining accessibility, rising uncertainty and a slowing housing market which has reduced the impetus on would-be home buyers to enter into the market, says the RICS Lettings Survey published on Monday 10 September 2007. Click here to read the article. |
 In the first six months of 2007 the Warsaw office market was characterized by very high levels of leasing activity, high demand and insufficient quantities of new supply brought about a decrease in the vacancy rate, and increases in rents. In its Polish Office Market H1 2007 report Colliers International Poland gives an overview of the major office markets in Poland in the first half of '07. Click here to read the full report. |
 The London Eye is the UK’s highest-visited paid for tourist attraction. The total invested in UK commercial leisure schemes in 2006 exceeded £1.2 billion (c. €1.65bn), representing the highest level of investment the market has ever seen and a significant increase on previous years. In its report UK Leisure – Getting Serious?, Eurohypo points out the major trends in the UK market for leisure property. Click here to read the full report. |
Budapest, the Hungarian capital.Hungary joined the European Union in 2004 and is now part of a broader market that includes 490 million people, offering new opportunities to foreign investors as well as local companies. In its report ‘Hungarian Commercial Property Market 2007’, King Sturge gives an overview of all commercial property sectors in Hungary, detailing rents, land values and investment. Click here to read the full report. |
 The International Council of Shopping Centers (ICSC) publishes many reports to keep its members informed of legislation and regulation that affect the shopping center industry. In its latest ‘ EU Update – European Legislative Issues & Activities’ ICSC focuses on the following green issues: Green Crime Policy – EU states curb scope of green crime plans
Climate Change – Climate change link stressed at World Water Week
Energy Efficiency – Italy submits EU energy efficiency action plan
Click here to read the article. |
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