Real Estate Research – Page 2
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White papersReal estate déjà vu - Has life sciences real estate become the next logistics sector?
A bit more than a decade ago, in 2011, a (at the time) somewhat obscure real estate sector was in the initial stage of its S-shaped growth trajectory. Its share in global real estate investment portfolios was less than 10% and concentrated in the US. This was the industrial (logistics) sector.
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White papersPowering the future: the strategic role of data centres in the AI evolution in Europe
Data centre demand is surging, driven primarily by the rapid evolution of AI technologies. In PIMCO’s view, this represents a significant opportunity for investors in European data centres.
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White papersA bigger splash: How much liquidity do I need?
The importance of holding liquidity is well understood by large institutions. But how much is enough? In the first part of our new article series on liquidity optimisation, Alastair Sewell investigates the key considerations for different investor types.
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White papersThe Role of Cold Storage in the Supply Chain
Food, one of life’s basic necessities, relies on cold storage for its safe, efficient and effective distribution to U.S. and global populations.
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White papersPrime Time For Cbd European Offices While Non-Cbd Offices Trail
In this publication, we cover for the first time the European office markets beyond the usual prime segment of the market, to fully capture the polarisation between prime and secondary buildings which has accelerated with the increase in remote working capture the polarisation between prime and secondary buildings which has accelerated with the increase in remote working.
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White papersReal Estate Outlook – US, Edition May 2024: Cautiously optimistic
After more than two years of adjusting to higher interest rates, private market real estate results were mixed during 1Q24, with value declines offset by income in several sectors. Returns for retail and industrial warehouse turned slightly positive. Self-storage returns were flat. Apartments and office buildings experienced negative total returns; though niche segments of the sectors, like medical office, manufactured and student housing outperformed.
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White papersReal Estate Outlook – APAC, Edition May 2024: Easing into a recovery cycle
APAC macro performance has been resilient in recent quarters despite much tighter monetary conditions. Since December 2023, Oxford Economics has upgraded its 2024 growth forecasts twice and the positive revision was broad-based across most countries.
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White papersReal Estate Outlook – Europe, Edition May 2024: A new cycle begins
Inflation has not been beaten yet. We’ve come a long way from the highs of inflation and interest rates – and the ensuing capital value correction. A new cycle is in its infancy, but the effects of the last one still linger.
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White papersReal Estate Outlook – US, Edition May 2024: Cautiously optimistic
After more than two years of adjusting to higher interest rates, private market real estate results were mixed during 1Q24, with value declines offset by income in several sectors. Returns for retail and industrial warehouse turned slightly positive. Self-storage returns were flat. Apartments and office buildings experienced negative total returns; though niche segments of the sectors, like medical office, manufactured and student housing outperformed.
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White papersReal Estate Outlook – Europe, Edition May 2024 A new cycle begins
We’ve come a long way from the highs of inflation and interest rates – and the ensuing capital value correction. A new cycle is in its infancy, but the effects of the last one still linger.
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White papersReal Estate Outlook – Global, Edition May 2024 Approaching the bottom
In the first three months of 2024 US economic growth was positive, but weaker than expected. GDP expanded at an annualized pace of 1.6% quarter on quarter (QoQ), a sharp downshift from the 3.4% annualized in 4Q23.
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White papersGlobal Real Estate Outlook Mid-Year 2024: A New Cycle of Contrasts
After a challenging couple of years for global real estate, there is a greater sense of optimism associated with the rest of 2024 and beyond. For the majority of markets, this year will likely mark the bottom of the cycle and the end of significant capital value falls. With stabilisation already emerging, investors are cautiously dipping their toes into the waters once again.
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White papers2024 Mid-Year Outlook - Walking Through the Threshold
Inflation is, of course, a global phenomenon, and similar decisions on interest rates are top of mind for policymakers, market watchers and investors around the world. (In fact, as of the finalization of this paper in early June, the European Central Bank (ECB) announced its first rate cut in nearly five years.)
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White papersEuropean real estate: from headwinds to tailwind
After a tough couple of years, European real estate stands out as one of the few asset classes where valuations aren’t sky high. With fundamentals improving, this creates an attractive investment opportunity.
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White papersGreen to gold: realising opportunities from the carbon transition
The potential for real estate to deliver green energy infrastructure is often overlooked. We explore the interventions required to monetise green energy, and how investors might benefit from the carbon transition.
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White papersGlobal real estate - Opportunities as market bottoms out
Why add unlisted real estate to your traditional 60/40 portfolio? The paradigm for global inflation and interest rates may have changed, but unlisted real estate still has a key role to play in a multi-asset portfolio. The role of unlisted real estate and its required risk-return has changed as the risk-free rate has moved from zero and below.
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White papersNavigating growth: Real estate trends and opportunities in the European life sciences market
A large part of economic activity takes place within buildings. Therefore, real estate must meet the needs of the real economy as it develops and grows. The life sciences industry and its real estate demand are on the rise, aided by demographics and scientific progress. Thus, real estate focused on meeting the increasing needs of this part of the economy represents an attractive risk-adjusted investment opportunity for value-add and core investors alike.
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White papersFive Structural Themes Driving Real Estate Investment
Commercial real estate demand and performance are driven by cyclical and structural factors. Cyclical factors, such as interest rates, consumer spending and employment, vary with economic cycles.
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White papersReal Estate House View: United Kingdom - First half-year 2024
Based on the view that interest rates and therefore gilt yields are unlikely to return to their cyclical lows, the outlook for real estate investment is changing.
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White papersReal Estate House View: Switzerland - First half-year 2024
The construction industry will have breathed a sigh of relief. The construction cost index recently rose by just 1.4% year-on-year. The sharp temporary increase thus remains an anomaly triggered by the shortage of supply. Prices for building materials, which are largely imported, were the main driver prior to the rise in interest rates, as the Drewry World Container Index shows. However, no price reductions are expected in 2024. The higher interest on borrowing is set to drive prices until mid-2024 at the latest. On top of this, additional planning requirements could potentially account for up to 2 percentage points of construction inflation.
