Real Estate and Globalisation (ePub)

2000 to 2010 was a remarkable decade for real estate. It started
with the dot.com bubble and ended with the putative recovery from
the Great Financial Crisis. The period in-between featured the
world's first coordinated real estate boom and slump. This book is
based on a series of briefings on the relationship between macro
economic events and real estate markets in the era of globalisation
that covered the period. Collectively they offer unique insights,
new ideas and practical approaches to real estate economics,
grounded in the day-to-day realities of investment, development and
fund management operations in a leading international property
company.

All the briefings are based on research conducted by a
sophisticated in-house research team with expertise in
macroeconomics, urban economics, financial economics and
econometrics, led by a well- known specialist in the field. The
topics highlight the relationship between real estate markets and
global economic and political events - an area not well
covered by academic journals.

A compelling introduction considers the dramatic boom and slump
in real estate values that led up to the Great Financial Crisis.
The briefings are then presented, grouped into broad themes: macro
economics and real estate; GDP, recessions and inflation; REITs;
construction; Asia; retail, offices and housing markets; the
formation of investment yields. A final chapter considers the
medium-term future for real estate in the context of the ongoing
financial crisis.

Topics span the key sectors of office, retail and residential
real estate in over 40 countries, with a focus on private sector
investment, development and management. The perspective is long
term, reflecting Grosvenor's unique position in real estate as a
privately owned group.

The author provides a commentary on each topic, giving context
to the research and the implications for strategy, drawing out two
unifying themes: the effect of globalisation; and the importance of
macro economics and geo-politics in real estate research.

Together, the briefings offer a penetrating analysis of real
estate markets in the era of globalisation and financial crises.
The era of crises is far from over, and Real Estate and
Globalisation provides invaluable insights for property
professionals worldwide - developers, occupiers, investment
analysts and planners - on the nature of the processes that
create such intense property market volatility. The book is also a
unique source of guidance on practical property research for final
year undergraduates and postgraduates on property courses, as well
in geography, planning, architecture, and construction.