The UBS Swiss Real Estate Bubble Index rose significantly to 0.80 in the fourth quarter of 2011. The index is thus edging closer to the risk zone. Basel-Stadt, Glattal-Furttal and Knonaueramt now also count as monitoring regions. The quarterly UBS Swiss Real Estate Bubble Index has reached 0.80, an increase of 0.22 index points since the last quarter. A score of 0.80 indicates a continued housing market boom in Switzerland. As the index reaches its highest level for almost 20 years, it is edging closer to the risk zone (greater than 1). The steep rise has been fueled by a relatively strong surge in home prices, slight deflation and stagnant incomes. The impact of record-low interest rates is also hard to ignore. The fourth quarter saw aboveaverage increases in household...

• Annual investment volumes reached €110bn in 2011, up from €104bn in 2010 • Real estate investment volumes grew in Q4 2011 to €31.4bn, a 17% increase on Q3 2011 • Activity in CEE contracted from €2bn to €1.3bn in Q4 as investors have become more selective in peripheral markets • Domestic investment totalled €20.4bn, reflecting a market share of 65% • Non-European investors increased their exposure to the European market as their net investment volumes reached €3.2bn in Q4 • Institutions remained active, with insurance companies maintaining their net investment in a sign that Solvency II may not significantly impact their holdings • As the European banking and sovereign debt crisis continue, we have downgraded our outlook with investment volumes forecast to show a small...

The current economic uncertainties and revised expectations on office jobs growth have strongly impacted the occupational market in Brussels which ends the year with the worst level of take-up of these last 12 years. Despite the good level of take-up in Q4 with 135,000 sq m, 2011 ends on an annual result of 348,000 sq m transacted. click here to read the full report from DTZ

Investors tend to view real estate as a safe asset class. It thus comes as no surprise that they are pouring more money into Swiss real estate in this turbulent market environment. UBS Research Switzerland sees this as a dangerous trend The fundamentals of the Swiss residential real estate market remain strong, and (potential) homeowners can secure lower interest rates than ever before. Since 2007, annual population growth has been well over double its long-term average. Household incomes are still rising briskly, albeit more slowly than before. The widespread confidence in the Swiss real estate market nevertheless seems to be showing signs of increasing strain. For example, condominium prices have risen around 35 percent throughout Switzerland in only five years (Zurich...

- Taux d’occupation en hausse des hôtels - 1.6 milliard d’euros investis dans l’immobilier hôtelier Le retour à la croissance du secteur hôtelier français se confirme en 2011 en dépit d’un contexte économique perturbé. L’activité hôtelière, dominée par le dynamisme francilien, continue d’être tirée par deux moteurs principaux: l’amélioration du taux d’occupation (autour de 65%) et la reprise des prix moyens (89 € en 2011). Pour 2011, les acteurs du secteur tablent sur un taux d’occupation stable autour de 65% (2010/2011). Il est important de souligner que le printemps arabe a contribué à favoriser le tourisme intra-européen. Si le secteur de l’hôtellerie française reste dominé par la clientèle hexagonale avec 66% des nuitées totales, l’année 2010 a été marquée par le...

Résistance des transactions de petites et moyennes surfaces, maintien du nombre de prises à bail supérieures à 5 000 m² au 4ème trimestre, contraction de la surface moyenne • Stabilité de l’offre immédiate, part croissante des surfaces de seconde main, contraction de l’offre à Paris QCA qui marque sa différence • Fort ralentissement de la construction neuve prévu en 2012 : seulement 370 000 m² en chantier • Progression des valeurs locatives à Paris, stabilité apparente et accroissement des mesures d’accompagnement dans le reste de l’Île de Franc Si globalement le marché des bureaux en Ile-de-France achève l’année 2011 sur un volume de transactions de 2 441 800 m²- soit une progression de 14% d’une année sur l’autre - le 4ème trimestre, avec seulement 495 955 m² placés,...

After diminished take-up in the London office market this year, particularly in the first six months, there is light ahead for developers in the Capital, according to a study from Cushman & Wakefield. With companies adopting a ‘wait-and-see’ attitude towards property decisions in 2011, it is expected that the London office market will benefit from some of the resulting pent-up demand next year. When asked about their organization’s strategy in 2012, just under half of London companies (49%) described it as one of opportunistic growth and just under one-fifth (17%) will be looking for aggressive growth. The national survey, carried out by Lighthouse Global amongst 500 of the UK’s largest companies, of which 213 have a London head office, shows that businesses are scrutinizing...

Score de 30 pour l’indice DTZ Fair Value TM tous produits, en baisse par rapport au 2ème trimestre 2011. Les opportunités se réduisent, Dégradation des perspectives économiques, qui influence les taux de rendement attendus et accroît la méfiance des investisseurs, Attractivité encore forte de l’Allemagne et du Royaume-Uni, une majorité des marchés allemands sont qualifié de CHAUDS, Forte baisse de l’indice pour le secteur industriel alors que le commerce affiche une certaine résilience, Rendement locatif stable comparé à la baisse des obligations d’Etat. Le marché de l’investissement en Europe offre aujourd’hui moins d’opportunités qu’au 2ème trimestre 2011, selon la dernière publication de l’indice DTZ Fair ValueTM qui mesure l’attractivité des marchés en...

El volumen de contratación del tercer trimestre se situó en poco más de 43.000 m², si bien el acumulado se acercó a los 174.000 m². 2011 marcará el mínimo de absorción bruta acumulada de la última década. Las rentas prime descienden un 2,6% con respecto al trimestre anterior. Savills, una de las principales consultoras internacionales de servicios inmobiliarios, ha presentado el último informe sobre el “Mercado de Oficinas de Barcelona”, correspondiente al tercer trimestre del año. Según el estudio, la actividad en el mercado de oficinas de la Ciudad Condal sigue sin mostrar signos de reactivación. El volumen de contratación registrado durante el tercer trimestre superó ligeramente los 43.000 m², muy alejado de la cifra del mismo periodo del año anterior cuando se alcanzaron...

Latest research from Colliers International has found that due to a declining workforce population, Europe is SET to see a drop in demand for office space over the next few decades. The findings of the report reveal Europe is witnessing a shrinking working population, creating a base case scenario of a 10% reduction in demand for commercial (office and industrial) space across Europe over the next 20 years. This will be followed by a further 10% diminution over the subsequent 20 years to 2050. Today, the Baby Boomers dominate the workforce (at almost 45% of the working population) and their demands have been most adhered to when planning office environments to date, resulting in a high proportion of cellular office use as opposed to full open plan. By 2020 the influence of...