Special Reports
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Global Retailers Seek Growth in Emerging Destinations
CBRE's 2011 global examination of retailer presence and expansion surveys 323 major international retailers across 73 countries and maps the fluctuations in the structure of the global retail market. The survey identifies the types of retailer present in each country and city, their preferred methods of expansion, and top target markets. Acknowledging the growing importance of e-commerce in the retail industry, this year’s research also measures the online capability of retailers and considers the likely impact of this important channel in the future. Download the Executive Summary
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ViewPoint: The Great East Japan Earthquake: A Preliminary Assessment of Real Estate Impacts (May 2011)
Report examines the mood of uncertainty following the earthquake and the subdued office and retail leasing market conditions that are expected to emerge a result. Effects on the industrial leasing market remain to be seen.
On the investment side, Japanese investors and funds are likely to lead the recovery in transaction volumes, supported by domestic banks that remain willing to finance prime real estate acquisitions. This compares with the more cautious attitude being adopted by overseas investors and lenders.
In the aftermath of the earthquake, both occupiers and investors will likely take a more meticulous approach to their real estate with respect to the earthquake and power supply resilience of properties they choose to acquire or occupy. |
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Special Report: China Land Market Review 2010
During the whole year of 2010, China recorded a total land transaction value of RMB 2.7 trillion, up 70.4% y-o-y against a 18% annual growth regsitered for land transaction area. The upward land price reflects the broad-based surge in housing prices and the land of supply. In the 15 cities we track, the land transaction area in 2010 rose by 15.6% y-o-y, amounting to 178.5 million sm. Fuelled by loosening liquidity and surging sales revenue of major developers, the land price climbed to RMB 2,749 psm in terms of accommodation value, up 23% y-o-y.
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Version: English / Vietnamese |
ViewPoint: Vietnam Dong Devaluation (March 2011)
The paper discusses the devaluation of Vietnam Dong.
The modern Vietnamese dong was born after reunification, on May 3, 1978. The dong’s first revaluation came on September 14, 1985, when 10 old dong became worth one new dong. In recent years, the dong has experienced frequent devaluation mainly due to the pressure of chronic inflation. The most recent devaluation of 9.3% was on February 11, 2011.
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Version: English / Simplified Chinese
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China's Logistics: Rising Demand but a Shortage of Supply
The paper discusses the difficulties that specialist industrial developers and owner occupiers are currently facing in sourcing land sites for the construction of logistics facilities in China against the backdrop of robust demand for such facilities to support the rapid growing economy. The confluence of the current supply-demand imbalance, the effects of rising fuel prices, increasing labor costs and escalating rental rates are likely to push logistics costs to record highs. The appreciation of logistics rents and the shortage of land for logistics facilities poses a challenge for both the real estate sector and society as a whole, as logistics operators, retailers and manufacturers will factor in higher storage costs in the pricing of goods. The increase in storage costs will add further pressure to the already high rate of inflation in China. |
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Version: English / Simplified Chinese
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China's High-speed Rail Network and the Promotion of Regional Urban Development
The impact of China's national high-speed rail network on urban real estate development will be manifold over the coming decade, representing a trend towards greater intra-regional connectivity that developers and investors cannot afford to overlook. This paper analyses the high-speed rail development plan, identifies which cities are likely to benefit most and highlights the impacts which this project is anticipated to have on the domestic real estate industry.
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Asia Viewpoint: New Residential Market Measures: Short Term Holding Tactic to Combat Longer Term Challenge
On 19 November 2010, the government implemented several “resolute measures” to prevent speculation in the property market, include charging an additional special stamp duty for the short term re-sale of residential property, as well as lowering the maximum loan-to-value ratio. However, the new measures can, at best, be viewed as a kind of “holding tactic” that allows the government to purchase precious breathing space, at least until substantial new supply comes on stream to satisfy rising demand.
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Suburban Retail: The Next Opportunity in Japan? Office and residential assets in Central Tokyo continue to be highly sought after by both international and domestic buyers, meaning increased competition and spirited buying. Investors looking to allocate large amounts of capital at more attractive yields are increasingly considering alternative acquisition strategies. This paper examines how selected suburban retail assets are becoming more attractive to investors, particularly in the face of cap rate compression in other sectors.
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Asia Viewpoint: Hong Kong Government's Conundrum: Cooling the overheating residential market without undermining market value
The rapid growth of housing prices in Hong Kong has led to disquiet among segments of the local population and the government clearly understands that it can no longer sit idly by until the situation gets out of hand. This Viewpoint, which was released prior to the Chief Executive's Annual Policy Address on October 13, discusses the various options open to the Hong Kong government as it looks to ensure a soft landing for the overheated residential market without causing a big crash.
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Introduction to the Jakarta Real Estate Market
Indonesia is the largest economy in Southeast Asia and one of the most resource rich and populous emerging markets in the world. In its capital Jakarta, the real estate sector is attracting increased involvement on the part of overseas investors with funds and developers from within the region investing in commercial and residential real estate. This report includes an overview of the Indonesian economy, property law and the Jakarta office, retail, industrial and luxury residential property sectors.
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Seoul Urban Regeneration: Transforming the CBD into an Integrated Commercial Area
The Seoul CBD accommodates a large working population with significant spending power. However, urban planners have largely failed to leverage on this fact and hence the area has functioned solely as an office precinct, with only limited retail space available. This paper charts the Seoul metropolitan government's ongoing initiative to revitalise and regenerate downtown Seoul, the latest phase of which is to introduce more retail elements into the CBD and transform the area into a commercial, retail and tourism hub.
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Evolution of the Corporate Real Estate Organization in Asia – Core Competencies for Success
CB Richard Ellis (“CBRE”) recently conducted interviews with leading CRE organizations in various sectors to gain insights around the eight core competencies we define for success in CRE. The ideas shared by these global, world class corporations have allowed CBRE to begin to develop a blueprint for organizational maturity.
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Hong Kong Housing Market: A New Policy Direction to Balance
The overheating of the Hong Kong housing market has been the topic of much discussion over the past six months. A more detailed examination of the Hong Kong housing market over the past decade reveals that the rapid appreciation of residential prices is the result of a combination of a number of factors related to supply-demand structure, local government housing policy and the rising influence of buyers from mainland China.
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Version: English / Traditional Chinese |
Revitalizing Industrial Buildings: A Hong Kong Perspective In the 2009−10 Policy Address, the Hong Kong government proposed several measures to encourage the rehabilitation of these older, surplus industrial buildings. This paper will discuss what have been done to revitalize nonfunctional industrial buildings in Hong Kong and issues faced by owners or developers seeking to invest in converting old factory or warehouse buildings for alternate uses.
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Asia Viewpoint: Key factors stimulating and impeding the short-term launch of REITs in China
The establishment of REITs in China is a long-term strategic measure intended to strengthen the domestic real estate industry and is designed to widen the industry’s financing channels and broaden the potential investor base for real estate assets without causing overheating. It appears that the central government prefers to adopt a relatively conservative approach to the launching of REITs.
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The Phnom Penh Real Estate Market
Phnom Penh has emerged as the centre of Cambodian business and economic development. This special report examines the real estate market across the office, luxury residential, hospitality, retail and industrial sectors in Phnom Penh.
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Success and Failure in Southern China Shopping Mall Development
The paper analyses the factors which contributed to the success or failure of the launching and ongoing management of three major mall developments in Guangzhou, Dongguan and Shenzhen in Southern China. It also highlights lessons to be learned from their experiences.
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2009 China Land Market Review
This new report, analyses the land transaction market of 15 major cities, in the China market during 2009. This in-depth report:
n summarises the market - comparing 2009 with 2008
n reviews the market situation, trends and major transactions in each city
n compares cities and highlights of the most expensive land transactions.
The report also covers CBRE's market expectations in 2010.
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Version: English / Traditional Chinese / Simplified Chinese
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Closer Cross Strait Relationship: Anticipating Investment Environment Change in Taiwan
New regulations introduced by Taiwan in 2009 have seen the end of the one-way flow of capital from Taiwan to the mainland. PRC enterprises across a range of industries are now able to establish a presence and buy real estate in Taiwan. The office leasing market is expected to be the first sector impacted by the new market opening arrangements. This special report examines the closer cross-straight relationship and opportunities in the real estate market.
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Introduction to Kuala Lumpur Real Estate Market
The paper provides a snapshot of a number of topical issues affecting the Malaysian real estate market at the beginning of 2010 including the competitiveness of the Kuala Lumpur office market; the government’s relaxation of laws governing foreign investment in various sectors including real estate; and the launch of Malaysia’s own green building rating system.
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