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Emerging Trends in Real Estate® Europe 2006 - Urban Land Institute

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<strong>Emerg<strong>in</strong>g</strong><br />

<strong>Trends</strong><br />

<strong>in</strong><br />

<strong>Real</strong> <strong>Estate®</strong><br />

<strong>Europe</strong><br />

1<br />

2 3<br />

5<br />

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62<br />

<strong>2006</strong><br />

Contents<br />

Executive Summary<br />

Chapter 1 A Liquidity Hurricane<br />

More Buyers Than Sellers by a Very Fat Marg<strong>in</strong><br />

Inflation: Shift<strong>in</strong>g to Lower Volatility<br />

A Repositioned Asset Class<br />

Growth Is Pick<strong>in</strong>g Up—But Not by Much<br />

Returns Still Attractive Relative to Other Asset Classes<br />

Pan-<strong>Europe</strong>an Investment: the Flexible Friend<br />

Indirect Investment Gets Grow<strong>in</strong>g Pa<strong>in</strong>s<br />

You Can Get It if You <strong>Real</strong>ly Want—but at What Price?<br />

Development Is Back on the Menu<br />

The Universe Is Expand<strong>in</strong>g—Even Core Investors Are Go<strong>in</strong>g Niche<br />

Mixed Use Moves Up the Agenda<br />

Wanted: Corporate and Government Assets<br />

Infrastructure Gets a New Fan Club<br />

Susta<strong>in</strong>ability Issues Barely Surface<br />

Go<strong>in</strong>g East for Opportunity<br />

Chapter 2 <strong>Real</strong> Estate Capital Flows<br />

Capital <strong>Trends</strong>: Equity<br />

Capital <strong>Trends</strong>: Debt<br />

Chapter 3 Markets to Watch<br />

The Top Ten Markets<br />

The Middle-Ranked Markets<br />

Challeng<strong>in</strong>g Markets<br />

Chapter 4 Property Types <strong>in</strong> Perspective<br />

Retail<br />

Hotels<br />

Industrial<br />

Residential<br />

Office<br />

Interview Participants

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