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Real Estate Summary - August 2017

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Real Estate Summary - August 2017

Ten years ago, sharp falls in world equity markets presaged the start of the Global Financial Crisis (GFC). Following a long recovery, all the major economies are now in better shape. In the US although expectations for stimulus by the Trump administration have faded, the economy should grow by around 2% this year and unemployment is back down to precrisis levels (see chart 1). Even the once-sickly eurozone has perked up, with sentiment and surveys at multiyear highs and economic forecasters scrambling to upgrade their projections. Japan is relatively weak, but in its own context the 1.4% growth projected for this year is good. Meanwhile, China appears to be managing an orderly transition from exports and manufacturing towards consumption and services. Overall, we are reasonably sanguine about prospects for occupier demand which, combined with supply that is under control in most markets, leads us to expect rises in real estate income.

Source : UBS AG

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