Maarten van der Spek Ph.D.

Haider Tuaima, Director and Head of Real Estate Research, shares his synopsis of Abu Dhabi’s real estate market. According to him, in Q3 2024, Abu Dhabi’s property market continued its upward trend, with home prices rising as the ValuStrat Price Index (VPI) recorded a 1.7% quarterly and 5.3% annual increase, reaching 120.7 points. Rental values mirrored this growth, climbing 5.8% annually and 2.6% quarterly to 115 points from a baseline of 100 set in Q1 2021, indicating sustained demand and favourable market conditions. https://lnkd.in/dKgVTrMK

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Haider Tuaima, Director and Head of Real Estate Research, shares his synopsis of Abu Dhabi’s real estate market. He and his research team said Abu Dhabi's real estate market demonstrated gradual and consistent expansion across most fronts. The office rental sector experienced strong growth, whilst villas continued to outpace apartments in performance. He concludes that Abu Dhabi's real estate market showed robust growth and stability in key areas despite declines in off-plan sales and residential ticket sizes. The overall expansion reflects a healthy and resilient market, with strong performance in both residential and commercial sectors. The steady increase in rental values and transaction volumes for ready properties indicates a sustained demand and investor confidence in Abu Dhabi’s real estate market. https://lnkd.in/dBYbE9hE

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Investments in #Living are most sought-after in current market environment. Institutional investors are desperately trying to either enter the market or expand existing business in Germany. In order to decide whether investment opportunities are attractive or not it is key to understand #regulations in specific #residential #markets! Together with Hogan Lovells Germany, Cushman & Wakefield have just recently published a new report on exiting regulations and their geographical spread throughout #Germany. Thanks a lot for that relevant intel! You can download the report via the link below! #living #residential #regulatory #investment #realestate #cushwake Cushman & Wakefield, Hogan Lovells, Stefanie Kern, LL.M., Kerstin Schoening, Maximilian Merkel, Helge Zahrnt MRICS, Karl Klaffke, Nicole Hock, Verena Saskia Bauer

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The MSCI REIT index eked out positive returns (+0.10%) for the for the 4th week in a row and the 8th time in 9 weeks, but the FTSE NAREIT All Equity REIT index was slightly negative at -0.07%. By comparison, the market cap weighted S&P returned +0.63% vs +1.15% for the equal weighted S&P and the NASDAQ was flat. Half of the eighteen REIT subsectors rose as self-storage (+2.3%), specialty (+2.0%) and commercial mortgage (+1.8%) led while regional malls (-1.6%), cell towers (-1.4%) and industrial (-1.1%) lagged. The sector lacked direction as valuations rose on Monday (+0.10%), Wednesday (+0.38%) and Friday (+0.27%) while declining on Tuesday (-0.43%) and Thursday (-0.29%). Listed REITs now stand -3.3% YTD but are +7.6% above their 2024 trough and +20.9% above their 2023 trough. Here's your pretty picture.

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It’s been an emotive two weeks — to the negative, positve, or just around the uncertainties, depending on your perspective. As we gear up to release the global chapter of the ISA Outlook 2025 next week, we tackle the question of whether the election outcome changes the broader path for real estate.

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Listed REITs declined for the first time in 5 weeks at -3.5% as every subsector was negative. By comparison, the market cap weighted S&P returned 0.0% vs -1.2% for the equal-weighted S&P at -1.2% and the NASDAQ at +1.4%. Real estate was the 2nd worst of the eleven GICS sectors, beating Energy. A combination of factors drove the weakness including: 1) upside surprise in UK inflation, 2) hawkish fed minutes and 3) better than expected unemployment claims. Net-net, real rates rose ~5bp WoW to ~2.15% and were as high as 2.165%. Listed REITs now stand +4.3% above their trough earlier this year and +17.2% above their trough in 2023, although -6.2% year-to-date. Here's your pretty picture.

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As we move into the second half of the year UK real estate appears to be offering better value on a range of measures. But the all property yield disguises significant dispersion between sectors. We've unpacked our thoughts in a new report and here is a link to the summary blog: https://lnkd.in/ecJmwzCG

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Positive total returns for UK commercial real estate in Q3 based on the results of the CBRE UK Monthly Index for September. The positive outturn was driven mostly by income return, but also by some capital growth over the quarter. https://lnkd.in/eYbgkuTn

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Taimur Khan, our Head of Research joins Bloomberg's Joumanna Bercetche on "Bloomberg Horizons Middle East & Africa to discuss the ongoing commercial real estate boom in the UAE and the challenges with high occupancy levels in Dubai and Abu Dhabi.   Watch the full interview here: https://cbre.co/4cvAFao Explore more in the our full UAE Real Estate Market Review for Q1 2024: https://cbre.co/3VEM6GA - for more market insights, contact Taimur Khan or Tatiana El Bazi. #CBREMENA #realestateinsights #uaerealestate

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This UBS Global Real Estate Bubble Index (https://lnkd.in/eTTn5va8) is one of my favorite annual reports. What I like most about it is that it uses a consistent methodology year-to-year. FWIW, it focuses on housing rather than the broader CRE markets. Bottom line: imbalances have declined in Europe, remained stable in Asia-Pacific, and increased in the US. While Miami tops the bubble risk ranking this year, Dubai has recorded the highest risk increase since mid-2023.

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🏠 Private REITs in the US and open-ended funds in Germany still face redemptions resp. outflows. On the other hand we see rising share prices of European real estate stocks (EPRA: +6% month-to-date) and large capital increases for Swiss listed property funds. ➡️ Once again open-ended structures prove to be the wrong setup for property investments. These funds have to sell their best assets when the market has reached the bottom with listed/closed-ended products attracting fresh capital at the same time. #realestate #propertyinvestments #funds #shares #epra #switzerland

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Thanks, Maarten van der Spek Ph.D. for working with GRESB and ANREV data to produce this insightful analysis of the relationship between fund performance and GRESB ratings and for presenting it at the ANREV annual conference last week in HK. #ESG #Sustainability #nonlistedrealestate

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As investors look to take advantage of repriced office real estate markets across Asia Pacific, 2025 looks to be promising with capital ready to flow. Watch the recording of our latest webinar to catch actionable insights from our regional and global experts to maximise your investments: https://ow.ly/fXsr50TUWoJ Christopher Pilgrim, Damian Harrington, Mike Davis, Adam Woodward, Amy Ho, Oliver Omi, Joanne Henderson. #ColliersAPAC #CRE #GlobalCapitalMarkets #CapitalMarkets #OfficeInvestments #RealEstateInvestments #InvestmentTrends #InvestmentStrategy #Webinar

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Great to talk with IPE Real Assets on Asia-Pacific urbanisation and infrastructure development challenges and opportunities: "Phil Ryan, JLL’s director of global research, city futures, says: 'Cities in Asia-Pacific are broadly facing two superficially contradictory trends: a rapid slowdown in the rate of overall population growth at a national level, but with sustained increases in urbanisation. Such a trend is most pronounced in East Asia, where the populations of cities such as Tokyo and Seoul have been broadly stable, despite decreases in the rest of Japan and South Korea, respectively.' Development and expansion of the subway systems have been a boon to the growth of cities like Shanghai and Beijing. In contrast, limited mass transportation infrastructure in cities in developing countries has led to heavy costs from traffic congestion and productivity loss through long commutes, he says. Ryan agrees: 'A lack of adequate infrastructure, especially public transport, in many larger cities – Jakarta, Manila, Bangkok, Hanoi and Ho Chi Minh City being the most notable – compounds this problem by increasing transport costs and pollution while reducing the ability to scale housing development upward in a consistent manner.' Ryan says Asian cities face an array of challenges related to climate change, and how they respond will be critical in determining longer-term growth prospects. 'South and Southeast Asia are especially affected by climate change, with high exposure to cyclones, heat stress, flooding and deforestation,' he says. 'Recent heat bulb events in Delhi, for instance, emphasise the extreme risk posed in the absence of scalable cooling strategies, while subsidence in Jakarta will exacerbate flooding events.' Climate-change adaptation and mitigation techniques, says Ryan, are coming in various forms, from large-scale infrastructure – such as widespread clean-power generation in China to provide clean energy to Chinese cities – to smaller steps such as subtropical design guidance in Brisbane that aims to reduce the urban heat island effect and manage stormwater runoff."

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Real Estate Asia: Savills World Research shares that office occupancy rates have increased in Q1/2024 from a year ago. Asia Pacific is the highest at an average of 88%, followed by Europe at 59% and North America at 53%. Singapore’s office occupancy rate has held steady at 94% for Q1/2024 vs Q1/2023.   Alan Cheong (GradStat), Executive Director, Research & Consultancy, Savills Singapore comments, “The occupancy level for Grade A CBD offices in Singapore is likely to remain high for the foreseeable quarters ahead. Although some companies are adopting hybrid and workplace solutions to optimise space usage, thereby reducing their office footprint, for this and next year, the average supply of new Grade A office buildings coming on stream from 2024 to 2027 is about 660,000 sq ft (net floor area), just below the 10-year average of 696,000 sq ft (2014 to 2023). While Grade A office rents and occupancies may hold up well, it is the lower grade and/or older buildings that may bear the brunt of the new office space usage by tenants. For the latter, they may have no choice but to undergo extensive refurbishment or complete redevelopment.”   Read more here: http://sav.li/ago   #savillssg #savillsresearch #officeoccupancy #officespace #APAC #APACofficemarket #occupancyrate #office #Singaporeoffice Zhen Zeng Wen Fang Tai

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I wanted to thank our exceptional panelists who made our Real Estate and AI - Change Management webinar a resounding success. THANK YOU Sabina Reeves, Umar Riaz, Sabrina Unger and Erin Patterson (she/her). My key takeaways: - A brilliant forecast - the best research and technology leaders will be classically trained students of humanities (masters of formulating the right questions) - Winning methods on how to integrate data scientists into the research function and make their work impactful to the organization - The need to continually upskill existing teams - Sharing perspectives on the most daunting challenges faced by larger, data-rich but siloed companies  - Specific strategies to ensure new talent assimilates into and then thrives within existing research teams Looking forward to exploring more AI related topics with you and the Real Estate and Hospitality community soon.

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Our latest Perspectives is a little different …. Marking four decades of change in London, as seen through the eyes of an accidental real estate researcher. Four decades analysing, counting, observing, advising, thinking and learning. Four decades that have seen London transformed from a major city into a truly Global City. What follows is a personal retrospective on how the city has changed, from a real estate perspective. It is longer than usual, but forty years is a long time; so no apologies! All papers in this series can be found at: https://lnkd.in/dFQG99JE  

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Rise of NRI investments in Mumbai's luxury real estate. Mumbai is now in the top 10 luxury real estate markets globally. Mumbai soared to 8th place on Knight Frank’s PIRI index, a remarkable leap from its 37th position in 2022. The study cited Mumbai and Auckland to lead the highest change with 5% increase in prices against average 2% rise across 26 markets in 2024. This significant advancement firmly established Mumbai among the top leading luxury residential markets. Since 2018, Mumbai city has recorded about ₹5,300 crore of luxury home sales every half year. In the first half of 2023, that doubled, as sales of homes costing ₹10 crore and above rose nearly 50% to ₹11,400 crore, according to a report by Sotheby’s International Realty and CRE Matrix. The ultra-luxury segment—a price tag of ₹40 crore to ₹70 crore—grew even faster. As per the latest research by SKYE, a hospitality development and consultancy company, India has around 2300 branded residences. Today luxury housing is all about opulent lobbies, state-of-the-art amenities and facilities, concierge services and tech driven management. This is why luxury projects have become a favoured choice for NRI investors who are progressively directing their investments toward lavish homes contemplating a future return to their homeland. Lured by their aspiration to own a premium asset and access to superlative services, NRIs are showing newfound interest in branded residences. Investing in luxury properties in India serves as a smart diversification strategy for their investment portfolios. It serves as a hedge strategy for NRIs to repatriate their savings to their home country, taking advantage of favourable dollar value and better returns. It acts as a safe bet against any global uncertainty and slowdown in their country’s economy. Investing in real estate offers a solid opportunity for long-term growth and stability, complementing traditional investment options. Within this landscape, Mumbai presents a highly favourable setting for real estate investments, given its thriving economy and extensive infrastructure development that is underway. Government policies, such as the RERA (Real Estate Regulatory Act) and relaxation in FDI (Foreign Direct Investment) norms, have lent weight to NRI investments in Indian real estate. These regulations have greatly improved transparency, accountability, and accessibility in the sector, which has boosted confidence among NRIs and brought transactions in line with international standards. By 2025, NRIs are expected to make a substantial contribution to the country’s total real estate investments highlighting their significant influence in propelling the segment forward. https://lnkd.in/dN8Afk5e

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“The latest data from the ValuStrat Price Index highlights the strength and dynamism of Dubai’s real estate market. With steady growth across residential, office, and industrial sectors, Dubai continues to attract investors and businesses, positioning itself as a premier destination for real estate investment in the region,” Haider Tuaima, director and head of real estate research at ValuStrat, said. Prices of prime properties in Dubai grew 26.7 per cent Year-on-year and 7.3 per cent quarter-on-quarter setting a new record of 173 points. This is compared with 100 base points as of Q1 2021. Highly desired prime villas reached a new 10-year high of 211.8 points with capital gains of 33.1 per cent year-on-year and 8.5 per cent quarter-on-quarter. Luxury apartments continue catching up with villas, as capital gains leapt 21.6 per cent annually and 6.2 per cent when compared to the previous quarter, to reach 149.4 index points, setting new price records for prime apartments. https://lnkd.in/dumhTcUD

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