Browse the complete Report on : Venezuela Real Estate Report Q4 2010

Browse All Business Monitor International Market Research Reports

Following BMI’s interviews with in-country sources in Venezuela at the beginning of the year, we concluded that ‘stagnating’ is probably the single adjective that best captures the position and prospects of that country’s commercial Real Estate sector. Having spoken to our sources again in mid-2010, this remains the case.
Traditionally, the markets for office, retail and industrial property have been distorted by the persistent inflation in the country which, in turn, is the consequence of the monetisation of public spending. Both rents and capital values have risen by 20-30% annually, with the result that yields have been fairly stable. Tenants are usually required to re-sign leases every year. Because of the extension of the public sector into the private sector – both through the imposition of price controls and outright nationalisation – investor sentiment remains dismal. Our sources in Venezuela confirmed that the few new commercial Real Estate projects under way in Caracas and elsewhere have been put on hold. Real capital values of property would probably fall – but for the tendency of tenants to buy the premises that they are occupying if the opportunity presents itself.
In the short-term, the dislocations caused by the lack of hydro-electricity – and the consequent need for many of Venezuela’s larger enterprises to operate well below capacity – are also unhelpful. Inside Venezuela itself, opinion is divided as to whether rents for commercial Real Estate will continue to rise. In our projections, we assume that yields will continue to rise gradually – even as nominal rents and capital values move broadly in line with each other.
Interviews of in-country sources were conducted in early February 2010.

Key Features Of This Report

This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. The questions that we seek to answer for each country remain as follows: What are the main issues for actors in and around real estate development in the country concerned, over both the long and the short term? What are the main constraints that they face? What are the key insights to be gleaned by comparing the real estate sector of a country with its regional peers?
In Q3 we introduced a very substantial improvement to our reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology section of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data through a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.


About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.


Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/

Browse the complete Report on : Mexico Real Estate Report Q4 2010

Browse All Business Monitor International Market Research Reports

In each of the countries where the Real Estate sectors are reviewed by BMI, we conducted interviews with out in-country sources at the beginning of 2010 and again in the middle of the year. In some cases, the later interviews have given us a large amount of new information that has caused us to rethink our interpretation of what is happening in the Real Estate sector in 2010 and/or to review our forecasts. Mexico is not such a country. Our interviews have confirmed that – across all four cities and three subsectors for which we collected data – the fortunes of market participants are currently near the nadir. Rents have remained remarkably stable in the face of the downturn in the US economy following the global financial crisis of late 2008. The implication is that Mexican property developers have done a surprisingly good job at matching new supply of real estate with demand.
Looking forward, though, we continue to believe that any improvement in conditions for the economy in general or the commercial Real Estate sector in particular will be gradual. The exposure of Mexico’s economy to trade with the US means that the recovery through 2010-14 is fragile. In particular, we see no sign of an upturn in investment. Nor do we see evidence of a sustainable recovery in consumer spending. The risks are to the downside. Nevertheless, the various protagonists in Mexico’s diverse markets for commercial real estate have lived with the challenges of fluctuating growth in the US and changing perceptions of risk within Mexico for a long time.
For the time being, we remain optimistic that protagonists will continue astutely to balance supply and demand over the next five years. Consequently, our base case is that yields will remain broadly unchanged over the next five years or so. However, there is a risk that yields slip sharply – in at least one of the sub-sectors or cities for which we have data – as a result of a slide in rents relative to capital values.
Key Features Of This Report
This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. The questions that we seek to answer for each country remain as follows: What are the main issues for actors in and around real estate development in the country concerned, over both the long and the short term? What are the main constraints that they face? What are the key insights to be gleaned by comparing the real estate sector of a country with its regional peers?
In Q3 we introduced a very substantial improvement to our reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology section of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data through a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.


About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.

 Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/

Browse the complete Report on : Egypt Real Estate Report Q4 2010

Browse All Business Monitor International Market Research Reports

In mid-2010, BMI’s in-country sources confirmed that Egypt is in the early stages of a major real estate boom. Across all five cities from which we have gathered data (Cairo, Alexandria, Sixth of October City, New Cairo and Giza), rents and capital values have risen over the past six months or so in the office and retail sub-sectors, while yields have fallen. Rents and yields appear to have tracked sideways in the less active industrial sub-sector.
The findings from the latest round of interviews are consistent with what we deduced from the previous round, which we conducted at the end of 2009. A very substantial increase in the supply of commercial property – thanks in part to the development of new cities to the east and west of Cairo and in part due to projects in the capital itself – means that years (perhaps decades) of under-development are finally being addressed. For a long time businesses have had little option but to operate in (typically old) buildings originally constructed for residential purposes. Now they have some choice.
Demand is also coming from two other quarters. Western multinationals are establishing and/or expanding their presence in Egypt, with the result that they need more office space. At the same time, Middle Eastern companies are relocating to Egypt, often in response to more difficult conditions in Dubai and Lebanon. Significantly, this second group of companies understands and is tolerant of the risks of operating in Egypt. Even if the political noises surrounding the forthcoming elections produces widespread unrest, these regional companies are unlikely to reconsider their plans.
The result is that conditions are dynamic. Vacancy rates vary, but are generally low or falling. Looking ahead, we expect that the optimism of protagonists in the office and retail sub-sectors will be justified. There should be a double-digit increase in rentals in these sub-sectors in 2011; further – if smaller – rises are likely in the following years. Over the forecast period (2011-2014), we envisage that capital values will increase rather more than rentals. As a result, the general downtrend in yields should continue. Egyptian assets are being rerated, and the country’s commercial real estate sector is a clear beneficiary of this.
Key Features Of This Report
This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. The questions that we seek to answer for each country remain as follows: What are the main issues for actors in and around real estate development in the country concerned, over both the long and the short term? What are the main constraints that they face? What are the key insights to be gleaned by comparing the real estate sector of a country with its regional peers?
In Q3 we introduced a very substantial improvement to our reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology section of this report.
In Q410 we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data through a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
 Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/

Browse the complete Report on : India Real Estate Report Q4 2010

Browse All Business Monitor International Market Research Reports

Of all the countries whose real estate sectors are reviewed by BMI, few are experiencing economic conditions quite as promising for real estate companies as India. Thanks in part to a favourable monsoon, economic growth is accelerating. Lending by banks is increasing. Investment in infrastructure will, or at least should, facilitate urban development.
We interviewed in-country sources at the beginning of 2010 and again in the middle of the year. In early 2010 – in spite of widespread optimism about the prospects for 2011-2012 – it was clear that India’s developers faced difficulties. Across the five cities where we interviewed in-country sources – Mumbai, Gurgaon, Chennai, Hyderabad and Bangalore – rentals slumped in 2009. In some cases this was because of the perceived risk of a recession in India (or, in the case of Bangalore, a real recession in the export markets served by businesses in that city). In other cases, contradictory government policies posed additional problems.
Further, it was clear that, for the office and retail sub-sectors especially, there was a massive over-supply of new commercial property. Our sources suggested that this problem may be less serious in new suburbs of Hyderabad and the National Capital Region, where new residential ‘colonies’ are attracting commercial developments.
A major finding from our interviews in mid-2010 is that the process of adjustment has already begun. Rents have continued to soften through the first half of this year. A slight increase in yields – across most of the sub-sectors – suggests that capital values have slipped by a little more than rents. However, there is no evidence of distress selling by market participants.
We had previously expected that yields would start rising gradually from 2012. Given that the process of adjustment – in response to the over-supply of commercial property – is well under way, we now look for general stability in yields over the coming years. Rents and capital values should, in general, move in tandem.
Key Features Of This Report
This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. The questions that we seek to answer for each country remain as follows: What are the main issues for actors in and around real estate development in the country concerned, over both the long and the short term? What are the main constraints that they face? What are the key insights to be gleaned by comparing the real estate sector of a country with its regional peers?
In Q3 we introduced a very substantial improvement to our reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology section of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data through a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.


About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.


Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/

Browse the complete Report on : Hungary Real Estate Report Q4 2010


Browse All Business Monitor International Market Research Reports


In mid-2010, BMI’s in-country sources in Hungary indicated that they are looking for a fairly sharp recovery in rental rates over the next year or so. After the grim conditions that protagonists in the Hungarian commercial Real Estate sector have endured over the last two years or so, such an outcome would be a major change.
However, it is not an outcome that we expect. A part of the problem is that any economic growth that takes place over the medium-term will likely be driven by net exports – particularly, to Germany and within Hungary’s automotive sector. Spending by households is constrained by rising unemployment and a retrenchment following the debt-funded consumption prior to mid-2008. Retail sales have been falling consistently for the last three years and are likely to contract further. The government is committed to fiscal austerity as a part of its Stand-By Agreement with the IMF. Corporations are restructuring their balance sheets and, collectively, are not in a position to invest heavily.
These negatives will outweigh positives such as: an improvement in the political environment, the return of Hungarian financial markets to stability, and the reduction in official interest rates to record low levels. Information provided to us by our in-country sources in our first interviews – which took place at the beginning of the year – suggests that vacancy rates in the office sub-sector are very high in both Budapest and Györ. New office space is not being absorbed, as tenants tend to prefer to renegotiate existing leases rather than to move. We assume that conditions are similarly difficult in the retail and industrial subsectors. Office rents have fallen over the last year or so. This has contributed to a fall in yields – although not to the levels that were prevailing in 2008 or earlier. While we do not share the optimism of our in-country sources, we accept that much of the adjustments to rents, yields and capital values in Hungary have already taken place. Accordingly, we look for yields to track sideways in the 2011-14 forecast period.
Key Features Of This Report
This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. The questions that we seek to answer for each country remain as follows: What are the main issues for actors in and around real estate development in the country concerned, over both the long and the short term? What are the main constraints that they face? What are the key insights to be gleaned by comparing the real estate sector of a country with its regional peers?
In Q3 we introduced a very substantial improvement to our reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology section of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data through a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.


About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.

Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/

Browse the complete Report on : Croatia Real Estate Report Q4 2010

Browse All Business Monitor International Market Research Reports


]The year 2010 appears to represent something of a nadir in the fortunes of the Croatian Real Estate sector after a difficult year in 2009. In our latest round of interviews with in-country sources, which were conducted in mid-2010, we were told that rents had basically stopped falling and are expected to track sideways through 2011. Further, and in spite of the high vacancy rates in the Zagreb office market, there does not appear to have been a sharp downwards move in capital values.
It appears that commercial property rents fell by 10-15% in each of the three main sub-sectors in Zagreb, and by rather more in Split, during 2009. Rents dropped by around 10% in Zadar, a small city where demand and supply of space have generally been well matched.
Crucially, it is difficult to envisage that there will be a sharp recovery in Croatia’s Real Estate sector. Although the contraction in economic activity, through 2009, has been less than in other countries in Central and Eastern Europe, consumer spending is likely to remain weak for some time – mainly because of persistent unemployment and under-employment. The government has been cutting expenditure. Investment is also likely to remain subdued. Prior to 2008, capital inflows had been running at around 5% of GDP annually. BMI is not expecting inwards investment to return to this level until Croatia joins the European Union, which we expect to happen in 2013.
Given that rents and yields appear already to have stopped falling, we are not looking for meaningful changes in either over the next year or so. To the extent that rents do move from late 2011 onwards, we expect that capital values will change similarly. Rental yields in Split and Zagreb should move sideways through the 2011-2014 forecast period. For the time being, we envisage that the same will be true in Zadar, notwithstanding the fact that yields are significantly lower than they are in the other two cities. The implication of all this is that Croatia is a country where there is unlikely to be substantial supply of new office, retail or industrial space over the coming years. Some of our in-country sources indicated at the beginning of 2010 that projects have already been shelved for lack of interest on the part of investors.
Key Features Of This Report
This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. The questions that we seek to answer for each country remain as follows: What are the main issues for actors in and around real estate development in the country concerned, over both the long and the short term? What are the main constraints that they face? What are the key insights to be gleaned by comparing the real estate sector of a country with its regional peers?
In Q3 we introduced a very substantial improvement to our reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology section of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data through a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.


About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.


Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/

Browse the complete Report on : Bulgaria Real Estate Report Q4 2010

Browse All Business Monitor International Market Research Reports

Bulgaria is a country where prices and asset values have to adjust in response to imbalances around a fixed currency peg. In our interviews with in-country sources at the beginning of 2010, we learned that rents had fallen by around one-third in all three sub-sectors and in all three of the cities for which we have gathered data – Sofia, Bourgas and Varna - since early 2009.
Pessimists indicated that further decreases in rentals were likely through 2010. Bulgaria remains in the grip of a long and deflationary recession, characterised by weakness in investment, net government spending and – in particular – consumption. Consumer sentiment and spending is likely to stay soft as unemployment remains high. Only a major devaluation of the lev relative to the euro (to which the currency is currently pegged at a rate of 1.96) could change the dynamics of the economy. However, as yet, such a devaluation has not taken place.
The implication of all this is that Bulgaria is a country where there is unlikely to be substantial supply of new office, retail or industrial space over the coming years. Some of our in-country sources also suggest that the lack of greenfield development sites represents a constraint on new supply. However, demand for new space is likely to remain weak.
Our interviews in mid-2010 indicated that rents had tracked sideways. The impact of softness in demand had been offset by the effect of restricted new supply. There had not been a wholesale fall in capital values. Surprisingly, our in-country sources are looking for modest rises in rents in Sofia and Varna. Looking forward, we expect that rental yields will continue to track sideways over the next year or so, as movements in rents are matched by changes in capital values. From 2010, though, yields should start to rise. In our forecast scenario, we expect that rental yields for office space in Sofia will rise relative to yields for other sub-sectors.
Key Features Of This Report
This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. The questions that we seek to answer for each country remain as follows: What are the main issues for actors in and around real estate development in the country concerned, over both the long and the short term? What are the main constraints that they face? What are the key insights to be gleaned by comparing the real estate sector of a country with its regional peers?
In Q3 we introduced a very substantial improvement to our reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology section of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data through a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.

About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.


Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/

Browse the complete Report on: Bulgaria Real Estate Report Q4 2010

Browse All Business Monitor International Market Research Reports

Bulgaria is a country where prices and asset values have to adjust in response to imbalances around a fixed currency peg. In our interviews with in-country sources at the beginning of 2010, we learned that rents had fallen by around one-third in all three sub-sectors and in all three of the cities for which we have gathered data – Sofia, Bourgas and Varna - since early 2009.
Pessimists indicated that further decreases in rentals were likely through 2010. Bulgaria remains in the grip of a long and deflationary recession, characterised by weakness in investment, net government spending and – in particular – consumption. Consumer sentiment and spending is likely to stay soft as unemployment remains high. Only a major devaluation of the lev relative to the euro (to which the currency is currently pegged at a rate of 1.96) could change the dynamics of the economy. However, as yet, such a devaluation has not taken place.
The implication of all this is that Bulgaria is a country where there is unlikely to be substantial supply of new office, retail or industrial space over the coming years. Some of our in-country sources also suggest that the lack of greenfield development sites represents a constraint on new supply. However, demand for new space is likely to remain weak.
Our interviews in mid-2010 indicated that rents had tracked sideways. The impact of softness in demand had been offset by the effect of restricted new supply. There had not been a wholesale fall in capital values. Surprisingly, our in-country sources are looking for modest rises in rents in Sofia and Varna. Looking forward, we expect that rental yields will continue to track sideways over the next year or so, as movements in rents are matched by changes in capital values. From 2010, though, yields should start to rise. In our forecast scenario, we expect that rental yields for office space in Sofia will rise relative to yields for other sub-sectors.

Key Features Of This Report

This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. The questions that we seek to answer for each country remain as follows: What are the main issues for actors in and around real estate development in the country concerned, over both the long and the short term? What are the main constraints that they face? What are the key insights to be gleaned by comparing the real estate sector of a country with its regional peers?
In Q3 we introduced a very substantial improvement to our reports. We incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology section of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data through a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.

About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.


Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/

http://reportsandreports.proarticles.co.uk/

http://reportsnreports.wordpress.com/

Browse the complete Report on : United States Real Estate Report Q4 2010


Browse All Business Monitor International Market Research Reports

For at least a decade prior to 2008, the growth of the US economy has been driven by consumption spending which, in turn, has grown faster than household incomes. This had been possible only because consumers had been taking advantage of actual or expected rises in residential real estate prices to fund their spending.
The end of this phase in US economic history is well understood. Because of a lack of discipline on the part of the US financial services industry, the country found itself with a glut of residential real estate (concentrated in particular states). Even if labour market conditions improve markedly, it will be a while before consumer spending to return to the growth rates which prevailed prior to 2008. Over the medium term, the overall growth of the US economy will likely be anaemic.
This very uninspiring prospect for the economy was incorporated into the commercial Real Estate sector in 2009. Commercial rents fell sharply over the course of 2010. Nevertheless, the second round of interviews with our in-country sources, which was conducted in July 2010, indicates that rents are finally stabilising. Further, they are expected to rise by 5-10% next year.
BMI surveys the real estate sectors of 44 countries, out of these, the USA is unusual in that its yields have risen – in most cities and sub-sectors – over the last year or so. Increased yields were reported by our sources in each of the five cities from which we collect data – New York, Los Angeles, Chicago, Dallas and Philadelphia. The liquidity and efficiency of the US commercial real estate sector is such that not only have property prices and capital values dropped, they have fallen further than rental rates.
Although some of our sources indicated that, in their cities, there are substantial amounts of vacant space in at least one of the major sub-sectors, overall vacancy rates are quite low. In general, there has been far less overbuilding in the commercial real estate sector as a whole than in the residential real estate sector. The fundamental problem is that many tenants (including some that are owners/investors in their own right) are unwilling or unable to pay rent at the rates which had been prevailing prior to 2008.
We believe that the process of adjustment still has some way to run. Although the hard numbers vary from city to city, rental rates need to fall further until existing tenants become inclined to upgrade their accommodation or to increase the space they are occupying. Prices and capital values need to adjust downwards faster than rental rates and this scenario will continue until owners and investors consider that yields are sufficiently high and that they compensate adequately for the new – and rather dismal – environment. Philadelphia appears to be the only one of the five cities from which we collected data where rental rates are near a trough.
Therefore, in projecting yields, BMI assumes they will stabilise in Philadelphia from 2010 but continue to rise to the end of 2012 in the other four cities. Thereafter, yields should remain reasonably stable in all three sub-sectors. Given the constraints on US consumers, we assume that there will be minimal growth in rents in the retail sector through the forecast period. However, it is possible that office rents and industrial rents will be rising gently by 2013 and 2014.
Key Features Of This Report
This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. Once again, the questions that we seek to answer for each country remain as follows: What are the main issues that will matter to actors in and around real estate development in the country concerned, both over the long and the short term? What are the main constraints that they face? What are the key insights that one garners when one compares the real estate sector of the country concerned with its peers in other countries?
In Q3 we have introduced a very substantial new improvement to the reports. We have incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology sector of this report.
The forecasting of rental yields, which is discussed in the methodology sector of this report. In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data by way of a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014.
We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.


About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.


Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/

http://reportsandreports.proarticles.co.uk/

http://reportsnreports.wordpress.com/

Browse the complete Report on: Pakistan Real Estate Report Q4 2010

Browse All - Business Monitor International Market Research Reports

Key Insights On The Real Estate Sector Of Pakistan
The last year or so has been very challenging for the protagonists in Pakistan’s commercial Real Estate sector. Rents have fallen in Islamabad and Karachi (although not, apparently, Lahore) –and across all three sub-sectors. It also appears that there have been sharper drops in prices and capital values, with the result that yields have in some cases increased.
This has happened even though Pakistan’s economy has suffered far less from the global financial crisis than its counterparts have in many other developing countries. The fundamental problem is a lack of demand from potential commercial tenants. The dangerously unstable political and security situation has resulted in the overall level of demand for commercial space falling well below that which is available. Our sources report vacancy rates of 40-50% in Lahore and Karachi. Perhaps because of the larger government presence, the vacancy rates in Islamabad are only around 10%.
Property owners also have to contend with the looming completion of a number of new, mixed and prestigious developments, such as the Centaurus in Islamabad. Our sources indicate that the likely impact of these new projects will be to attract tenants from surrounding, and older properties – not least because they offer better physical security.
That these developments have continued at all is testament to the fact that a number of the protagonists understand, and are extremely tolerant of, the risks of doing business in Pakistan. Foremost among these is the Defence Housing Authority (DHA). Projects have also been supported by Middle Eastern multinationals; however, some of these companies, which are both developers and potential occupiers of space in Pakistan, have suffered as a result of the financial crisis in Dubai.
The comments from our sources in Pakistan indicate that rental yields have been volatile recently as a result of the slippage in rentals and (often) a greater fall in prices and capital values. Looking forward, we envisage that yields will stabilise from 2011 onwards, and at levels that were prevailing in 2008 and 2009. Interviews of in-country sources were conducted in mid-February 2010 and again in July 2010.


Key Features Of This Report

This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. Once again, the questions that we seek to answer for each country remain as follows: What are the main issues that will matter to actors in and around real estate development in the country concerned, both over the long and the short term? What are the main constraints that they face? What are the key insights that one garners when one compares the real estate sector of the country concerned with its peers in other countries?
In Q3 we have introduced a very substantial new improvement to the reports. We have incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology sector of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data by way of a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.


About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.


Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004

http://reportsandreports.blogspot.com/

http://reportsandreports.proarticles.co.uk/

http://reportsnreports.wordpress.com/

Browse the complete Report on: Malaysia Real Estate Report Q4 2010

Browse All - Business Monitor International Market Research Reports

Key Insights On The Real Estate Sector Of Malaysia
For protagonists in Malaysia’s commercial real estate sector, the global financial crisis, and subsequent downturn in global trade, was not a particularly important issue. Malaysia’s economy coped fairly well with the challenges of 2008 and 2009. After real GDP fell in 2009 by 1.7% y-o-y and in Q309 by 1.2%, the recovery began in Q409, with a quarterly growth rate of 4.5% y-o-y. High levels of private consumption and investment have been the main drivers. Looking forward, growth will likely be boosted by more streamlined regulations and increased foreign direct investment (FDI).
Of much greater significance has been the over-supply of space – particularly in the Kuala Lumpur office sub-sector. BMI’s in-country sources, who were interviewed at the beginning of 2010 and again in June/July, have indicated that – in most of the market – rental rates have held up.
On the limited information available to us, it appears that the same has not necessarily been true of capital values. Yields have risen more or less across the board – and dramatically so in Kota Kinabalu. Our sources are, for the most part, confident that rental rates will track sideways or rise slightly in the coming year. Taking a longer view, we envisage that yields will fall slightly over the coming four years. In essence, we are looking for rents to increase marginally, but for capital values to increase by a slightly greater amount.


Key Features Of This Report

This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. Once again, the questions that we seek to answer for each country remain as follows: What are the main issues that will matter to actors in and around real estate development in the country concerned, both over the long and the short term? What are the main constraints that they face? What are the key insights that one garners when one compares the real estate sector of the country concerned with its peers in other countries?
In Q3 we have introduced a very substantial new improvement to the reports. We have incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors – office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology sector of this report.
In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data by way of a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios.


About Us

ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.

 Contact:

Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/

http://reportsandreports.proarticles.co.uk/

http://reportsnreports.wordpress.com/