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Americas Watch - August 2017

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Americas Watch - August 2017

Seven months into the year as midyear data starts to roll in for property market fundamentals and capital markets, it is a good time to take stock. For forecasters like us, it is a chance to course correct. How close were we on what we thought 2017 was going to turn out to be? Do we need to re-think 2018? So far, the big takeaway is that the “Trump Bump” in leasing that we expected to see in the office sector has not materialized. In fact, it has been quite underwhelming. The improvement in the apartment sector is marginally better than but not quite as robust as expected. The retail sector also continues to struggle, but then again expectations were low to begin with. The only major sector to stay on track and perform at a high level remains the industrial sector that is reaping the benefits of changing technology and shifts in consumer behavior. Although transaction volumes are not quite where they were a year ago, cap rates and pricing are holding steady. Investors are approaching the sector with caution as the cycle matures.

Source : CBRE Global Investors

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