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IS THE MARKET AT A TIPPING POINT?

The Property Perspective: Global Capital Markets | July 2016

Commercial real estate investment sales volume fell 19% globally in Q1 2016 compared to a year earlier. Is this a sign of change in the capital markets after five years of steady growth, or a temporary blip induced by global economic jitters?

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Executive Summary

 

Global economy

Real estate capital flows are well supported by a growing global economy, but volatility, including geopolitical events, will continue to ruffle markets.

Brexit

With the marketplace digesting the U.K.'s vote to leave the EU, some property investors are likely to take a “risk-off” approach, while others see it as a buying opportunity.

Global real estate

The globally correlated drop in property investment shows how interconnected commercial real estate markets have become.

Americas

U.S. lenders are pricing risk and underwriting more conservatively, which, coupled with healthy market fundamentals, is leading to a more sustainable market relative to the 2006-2007 peak.

Asia Pacific

Chinese appetite for property abroad continues to increase—even as its domestic markets improve and gateway cities grow pricier.

Europe

Alternative property sectors are growing more popular in European markets as the search for yield intensifies.

Outlook

In a world of ultra-low interest rates, property returns remain very appealing to investors—and Brexit-fueled volatility will push the return to “normal” interest rates further out.




Read the full report to learn more about what will drive the global capital markets in the second half of 2016.
The Property Perspective: Global Capital Markets

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The Property Perspective: Global Capital Markets

For more information about this report, please contact:

Richard Barkham, Ph.D.
Chief Economist, Global
+617 912 5215
Michael Haddock
Senior Director, Global Research
+44 20 7182 3274
Jeanette Rice
Head of Multifamily Research, Americas
+1 214 979 6169
Rosanna Tang
Director, Asia Pacific Research
+852 28202806