2020 European Real Estate Outlook

AEW vous invite à participer à notre prochaine webcast Recherche & Stratégie « Perspectives immobilières en Europe 2020 » qui se tiendra le jeudi 28 novembre 2019 à 10h00. Ken Baccam et Irène Fossé s’efforceront de répondre aux questions suivantes, ainsi qu’à celles que vous pourrez poser au cours de la présentation:

- Quelles sont les implications d’un scénario de taux d’intérêt plus bas pour plus longtemps sur les cycles immobiliers européens ?

- A quoi ressemblent les rendements ajustés du risque attendus pour les 100 marchés immobiliers que nous couvrons ?

- Quelles stratégies les investisseurs doivent-ils privilégier au cours des cinq prochaines années, en fonction du couple rendement/risque recherché ?

All-in rates at historical low, despite elevated margins

This is our initial application of the Factor Investing approach for nearly 40 European office markets

Factor investing identifies multiple factors that drive excess returns compared to any market portfolio

This so-called smart beta strategy uses factors such as volatility, liquidity, quality, value, yield and growth

Finally, we compare factor investing to the traditional core and value add investment styles

Helping multi-asset investors place real estate private equity and debt in with their public market allocations to bonds and stocks.

You are invited to AEW’s upcoming webcast ‘2019 Market Outlook’, taking place on Tuesday 20th November at 2pm GMT/3pm CET. The European Research & Strategy team will be discussing the outlook for the European commercial real estate market for 2019 and beyond and discussing the launch of our new risk-adjusted return approach to meet the increasing challenges in a late market cycle.

•What are the chances of excess new supply of office space in the short term?
•Can we tell anything based on granular investment data?
•What is the outlook for vacancy rates and prime office rental growth?

1. Occupier market update and introduction on footfall statistics
2. Cluster analysis as a new perspective for investors
3. Latest forecasts for returns in high street retail and shopping centres

- With yields at historical lows, is there still value in European property?
- How should long term multi-assets investors view relative value in the current environment?
- How do the core European countries rank in respect to relative value?

Please join our webcast as our research team discuss the outlook for the European commercial real estate market for 2018.

They will be providing an outlook across the main European markets, reviewing fundamental occupier trends and providing perspectives on pricing and leverage.

- The emergence of logistics across Europe
- Big data application in market analysis
- UK logistics in a post-Brexit world

Hans Vrensen and Shan Shan Qi from AEW's research team will be discussing the outlook for the European real estate market and building on the optimal portfolio methodology introduced in the previous webcast.

•As political uncertainty fades and the economic recovery continues, investors can meet an increasingly challenging investment market by considering a broader range of markets
•Despite a potential for interest rate increases down the line, relative value remains strong in many non-gateway markets with better than expected liquidity and risk-return profiles
•Most attractive markets are highlighted by applying our optimal portfolio and four criteria scoring approach now to 100 markets segments – a doubling of our universe

Webcast discusses the latest AEW research showing that commercial real estate investors should look beyond the traditional gateway markets of London, Paris and Berlin to achieve the best optimal portfolios