News Alerts. Oct. 9, 2013. Evening Edition. #RealEstate

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  1. Global Commercial Real Estate Transactions Continue to Exceed Expectations in Q3 2013. Jones Lang LaSalle News Alerts. Oct. 9, 2013. Evening Edition. #RealEstate

    EXPO REAL, October 7, 2013 — Global commercial real estate markets continue to exceed expectations in 2013 as preliminary transaction volumes in the first three quarters of 2013 are up 16 percent over the same time period in 2012, according to Jones Lang LaSalle Capital Markets research, which spans 60 countries and more than 130 cities worldwide. Preliminary direct commercial real estate investment volumes in Q3 2013 reached US$125 billion globally, up three percent over Q2 2013 and up 25 percent when compared to Q3 2012.

    Global volumes have now been above US$100 billion for six consecutive quarters and this is expected to continue into the traditionally strong fourth quarter. In light of this positive trend in activity, JLL has updated its 2013 projected transaction volumes to $475-500 billion, from $450-500 billion, with the final outcome likely to be closer to the upper limit.

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  2. European prime property rents to increase in 2014 . Jones Lang LaSalle

    EXPO REAL, 7 October 2013 — Jones Lang LaSalle’s real estate data for H1 2013 indicates a stabilising situation across European prime property, with signs of recovery apparent in several key markets.

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  3. Sober Look: The impact of a US technical default on long-term treasuries News Alerts. Oct. 9, 2013. Evening Edition. #RealEstate

    Those who argue that longer term rates will fall believe that the economy and the equity markets (as well as other risk assets) will take such a hit, a severe deflation will ensue. Under such a scenario treasuries will become similar to JGBs, with nominal yields collapsing even as real yields stay positive.

    The other group however believes that such an event will shake investor confidence in treasuries so much – by delaying payments indefinitely – that investors, particularly foreigners, will dump the paper in unprecedented amounts. The dollar will take a tremendous hit and longer term rates would spike.

    We lean to the latter, as you’ve seen from our previous commentary today.

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  4. Commercial Real Estate Lending Expected to Remain Buoyant News Alerts. Oct. 9, 2013. Evening Edition. #RealEstate

    According to Chandan’s [Sam Chandan, president and chief economist at Chandan Economics] research, 71 percent of national and regional banks with significant commercial real estate exposure increased net lending in the last year. In the second quarter, banks’ net exposure to commercial real estate loans increased by $18 billion, the second-best showing since 2008.

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  5. Why we’re seeing a brand new housing bubble—Japan style – Market Realist News Alerts. Oct. 9, 2013. Evening Edition. #RealEstate

    There’s quite a bit to the article, especially if you’re not old enough to remember the beginning of Japan’s “lost decade” (actually decades).

    … estimates suggest nearly 20% of Japan’s housing stock will be abandoned. This sounds like Japan is on its way to becoming the world’s biggest Detroit, though things are a little different in Japan. (Aren’t they always?) A large number of the abandoned housing units in Japan are very cheaply constructed units, whose reasonably utility is somewhat out of step with modern standards.

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