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Price discovery in the private real estate market is always a challenge when there is a sudden change in the market as we have now with COVID-19.  As happened during past recessions, the number of transactions grinds almost to a halt making it difficult for appraisers to estimate market value. When this happens, we often see a disparity between what is happening to the value of publicly traded real estate (REITs) and values in the private real estate market as measured by... Read More >

Recent Articles:


As Coronavirus (COVID-19) is reshaping the real estate landscape, property professionals need to rethink their approach to extreme risk events. It is now evident that mainstream risk management techniques are insufficient to deal with irregular Read More >

Bemoaning the decline of the UK high street is pointless – it’s basic economics that land use changes according to need, and that means flats and cafés in place of shops For the past ten to fifteen years, commentators and local Read More >

As placemaking is rapidly changing the urban landscape, the way we view real estate value needs to adapt to meet evolving community demands,wherepeople create places where they want to actually live, play and work. Increasingly, space in Read More >

The National Council of Real Estate Investment Fiduciaries (NCREIF) tracks the performance of over a half trillion dollars of commercial real estate in the US.  Because the properties are marked to market every quarter for financial Read More >

Proptech evangelists would have you believe that emerging digital technologies can and will be applied imminently to any real estate use, in the process resolving all of the industry’s current inefficiencies overnight. However, as the saying Read More >

Around the world, landlords of all types are being asked by tenants, or even required by governments, to waive rents, grant rent holidays or write off arrears as tenants struggle to stay in business and household incomes fall or Read More >

At some time last year, a bat passed on a mutated virus to a trafficked pangolin (a scaly ant-eater) in a wet market in Wuhan, China.  Now, that same virus has spread to unknown thousands of people across the globe and there is only Read More >

Introduction I think that it is fair to say the effect of the coronavirus worldwide is something that is unprecedented in our careers. I know that there are a few survivors of the “Spanish flu” of 1918/19 who are still alive but for most Read More >

Within the field of postgraduate education there has been a growing interest in providing (and undertaking) part-time courses, which are of the same academic standard and rigour as full time courses, but allow students to “earn while they Read More >

Simple comparison in property valuation involves greater complexity than some may assume – and it’s getting harder. Comparison is the lynchpin of all valuations. In property, we use the term ‘comparable’ to describe the Read More >

A single page of comic art can command prices of up to $1m – this isn’t just a market for sentimental collectors “Everything you can imagine is real,” Pablo Picasso once said. Nothing could better sum up the appeal of collecting comic Read More >

As UK agriculture faces major funding changes, one important resource should not be overlooked in developing sustainable farming systems Those who remember farming in the decades after the second world war, especially the 1970s, will know Read More >

WeWork, with its space-as-a-service model, began a chain reaction that will have a lasting impact on the commercial property market The term ‘smart building’ first appeared in an Iron Man comic from 1994, according to Propmodo’s Franco Read More >

EPRA’s new best practice recommendations for NAV calculations, which kick in this January, introduce three discrete NAV measures to replace the old ones. Are you ready? It is well known that the UK listed sector (in aggregate) currently Read More >

Simple comparison in property valuation involves greater complexity than some may assume – and it’s getting harder Comparison is the lynchpin of all valuations. In property, we use the term ‘comparable’ to describe the transaction of Read More >

The demise of high street retailing in the UK has been a subject of national concern for some time – and even mainstream TV and radio has covered the issue from a variety of angles. The very public failure of big-name brands such as Read More >

Since the GFC, Spain has seen a dramatic change in the commercial real estate debt market. Not only has the consolidation of banks helped the sector to deal with non-performing loans more effectively and restore confidence in the banking market, Read More >

Government policies and elections affect house prices, but in what way and by how much? A new report from Birmingham City University researchers reveals why property professionals should take note when elections are in the air The period of Read More >

UK legislation enforcing minimum emissions standards for existing buildings can no longer be ignored  “A change in the weather is sufficient to recreate the world and ourselves,” or so said Marcel Proust 99 years ago. I wish he had Read More >

The commercial property sector has slacked on sustainability, but smart monitoring offers cost savings which could change that For everyone except Donald Trump – who seems to have buried his head under a rock for the past 50 years – Read More >

The new CRREM tool reduces the risk of properties being ‘stranded’ by non-compliance with changing regulations Climate change represents an enormous challenge for real estate, requiring adjustments at numerous levels. The property Read More >

Since the 1950s, accessibility using some form of time/distance measure has been considered a determinant of land use in American city and transportation planning theory and practice. But, due to the functionalist orientation of education and Read More >

How sporting terms enter the mainstream In 1976, a Canberra cricketer who had moved there from Western Australia complained about the quality of the local pitches, which were not like those in his native Perth where “the ball bounced truly Read More >

Architectural character on the big screen As revealed in the last edition of The Property Chronicle, it’s pretty clear that in Hollywood movies of the past, architects have traditionally been cast as the Good Guys: creative, socially Read More >

Why the industry must be an active force in driving change “Sustainable investment is about the responsibility and potential the real estate industry holds to reach climate and environmental sustainability targets. In a rapidly urbanising Read More >

Why we need to encourage innovation and holistic solutions to the challenges facing real estate  “Silo busters unite!” is becoming a slogan here at the Real Estate Institute. We contest that few, if any, of the major problems that Read More >

But first, the industry must digitise News broke in March 2019 of the first successful global blockchain real estate transaction. It included participants from established organisations, such as Ashurst, Baker McKenzie, Barclays, Clifford Read More >

Is there anything else British universities can do to prove the worthlessness of a degree? It appears not, as this week it was revealed that grades have been artificially inflated across the country’s academic institutions, with almost Read More >

With so many factors to consider, the division between doomsayers and optimists has never been so large There seems to have always been two starkly different perspectives about China's real estate market. For years, doomsayers have warned of Read More >

More people. More cities. More buildings. More infrastructure. Infrastructure is turning out to be an asset class that, while appearing mostly immeuble, is fundamentally different from real estate requiring, among many things, strong and Read More >

The Physical Market Cycle Analysis of 5 Property Types in 54 Metropolitan Statistical Areas (MSAs). The economic expansion has been solid with 1Q GDP growth at 3.1%, which also drove continued job and wage growth so far in 2019. Trade Read More >

The United States has experienced over 40 years of diminished economic growth. While different data sources and analyses yield different estimates, they all confirm several decades of slow economic growth. Earlier, from the 1890s to 1972, Read More >

(How Much Is) That Doggie in the Window? - Bob Merrill (January 1953) As the quote above reminds us, retail is all about enticing shoppers to part with their money to buy the goods on display. Historically, retailers have displayed their Read More >

I started perusing The Property Chronicle a few months ago when I came across a good piece by John Ratcliffe.  This morning I knew I had to respond to Yolande Barnes' What do we mean by #RethinkRealEstate? She's a professor of real Read More >

The Physical Market Cycle Analysis of 5 Property Types in 54 Metropolitan Statistical Areas (MSAs). The 2018 economic expansion continued at a moderate pace with a slightly higher GDP growth rate than the past five years. Employment growth Read More >

Congratulations from us all at The Property Chronicle to our fantastic contributor Nick French, who is getting married this Sunday. We hope you have a wonderful day! Read More >

These last six months have been full of terrific opportunities for this travelling academic to feed her real estate addiction.  First up was a trip home to Madison for the Wisconsin Real Estate Alumni Association. Since I hold three Read More >

What do we mean by #RethinkRealEstate? If you are wondering what your life is about and want to get rather philosophical about it all, there is nothing quite like acquiring a new job title –particularly when you have to make it up yourself. Read More >

Real Estate Physical Market Cycle Analysis - 5 Property Types - 54 Metropolitan Statistical Areas (MSAs). It appears mid-term elections should not substantially change the pro-growth policies being pursued by the current administration, thus Read More >

Having conducted a number of Strategic Foresight exercises for various universities over the past year, I am shocked and concerned how ill-prepared students on Built Environment programmes are, with notable exceptions, to ride the rising global Read More >

Most of us probably go through periods of serious scepticism regarding the nature and practice of democratic government. Indeed, having lived and worked in Singapore for a spell during the ‘reign’ of Lee Kuan Yew, I found myself Read More >

It has become almost a commonplace to suggest that the professions are at a watershed - or even under siege. That, with the new culture of accountability in society, there is a ‘crisis of trust’ in their conduct and a serious questioning of Read More >

Some years ago I was given the responsibility for taking a cache of legal documents from the Wellington offices of Weatherby’s, the administrative arm of British racing, to the British Racing Museum at Newmarket. The material related to one of Read More >

Victorian bankers rarely wrote mortgages. As a contemporary bankers manual explained: ‘house or shop property, even of a superior class, is not a desirable security...on the grounds of its uncertainty of sale’.(1) Until the 1980s, UK clearing Read More >

At the start of a new academic year, it is worth reflecting that Higher Education is facing a future that is both more challenging than at any point in the last century but also presents more opportunities for innovative organisations than ever Read More >

The inaugural officially-recognised test match between Australian and English cricket teams took place in March 1877 at the Melbourne Cricket Ground (MCG), where Australia beat a professional team led by James Lillywhite by 45 runs. Reciprocal Read More >

Having just delivered a panegyric on “Cities of Tomorrow” at a recent conference on Urban Sustainability, and praising the growing practice of ‘Citizen’s Juries’ across many countries in the world, I was momentarily thrown by a query Read More >

The Prime Minister continues to cling to the nonsensical view that foreign students should be counted in the immigration numbers. The policy was based on data since proven to be false, the PM’s assertion that 100,000 students overstayed their Read More >

"The future is not some place we are going, but one we are creating." - John Schaar, Legitimacy in the Modern State (1981) Although the quote above isn't directly related to the topic of climate change, it fits the ongoing debate about our Read More >

The decade since the Global Financial Crisis has seen sharp increases in asset prices apparently driven by low interest rates. These low interest rates have been caused by quantitative easing, and lower interest rates have caused lower discount Read More >

In a new four-part series, David Shiers looks at how the design of the built environment has evolved to take account of ‘Green’ issues and considers what may lie ahead in the way we experience the buildings in which we live and work. With Read More >

In 1895 a solitary American jockey, the African American Willie Simms, rode in British racing. His unusual riding style—virtually crouching along the horse’s neck with short stirrups, high knees, and a tight rein—was in contrast to that of Read More >

By strange and satisfying serendipity the other day, my opponent in a seniors golf match against another club was someone I’d last met back in the early 1980s when we were both members of what we liked to think was an elite fraternity in the Read More >

The result of the 1886 Cambridgeshire horse race shows that St Mirin was beaten a neck by Sailor Prince and that the losing horse carried a pound overweight. Jockey, Fred Archer, rider of second-placed St Mirin, blamed himself for the defeat as Read More >

(Article originally published Summer 2018) Part one: What do recent rises in interest rates mean for property prices? US 10-year Treasury Bill rates have been at an all-time low, having fallen below 2% for the first time in 2017. UK Read More >

One of the wonderful perks of being an academic is that most of us have the summers “off”. They are not really off, as many of us work hard on our research or take students on summer tours to study real estate... but that is often in a fun Read More >

Worrisomely, I have been somewhat conflicted over the past few weeks. Academically and philosophically, I am engrossed in conjuring up a Keynote Address for an international conference in the autumn proselytising “A Commons Transition” in Read More >

Some in the west might deem sumo a freak show in which obese children and even more obese adults are paraded to an admiring audience, but is it any more freakish than seven foot basketballers or 300 pound gridiron footballers who can run even Read More >

Prelude More than two millennia ago, the celebrated Roman poet Publius Vergilius Maro, more familiarly Virgil, pronounced: “The greatest wealth is health.” Arguably, such a sagacious statement really needs no elaborate explanation or Read More >

An old adage had it that “no-one got into Real Estate because they were good at maths”. If it was ever true that you didn’t need good numeracy skills in the property industry, it certainly isn’t now and one of the major challenges Read More >

Most times teams do their utmost to win matches but on occasions the rules and organisation of a competition can tempt them to do otherwise. Take the 1994 Shell Caribbean Soccer tournament in which teams were divided into groups of three where Read More >

“Imagine ahead - plan backwards” has long been my idiosyncratic mantra for exploring the future horizons facing global real estate; in contrast, conceptually, to the more traditional conjecture regarding industry vogues and emerging business Read More >

Until the 1980s the official list of Olympic gold medallists was one shy of being complete. The records did not include Australian marksman, Donald Mackintosh’s victory in shooting at the Paris Olympic Games of 1900. However, diligent research Read More >

In 1977, a then 16-year old William Hague said that his generation wanted the national government to “...get out of the way, not intervene, not interfere in their lives” and hoped that future Prime Ministers would promote a truly free-market Read More >

US 10-year Treasury Bill rates have been at an all-time low, having fallen below 2% for the first time in 2017. UK government bond (10 year) yields have also been lower than they have been at any time and 10 year Treasuries in Australia are Read More >

We have always been told that success in the real estate world is down to "location, location, location". Yet for students aspiring to join the profession a more important mantra is "prepare, prepare, prepare". Competition for property related Read More >

John Shotto Douglas, the ninth Marquess of Queensberry, has two major claims to fame. First he was the nemesis of gay author Oscar Wilde who sued him for libel after he had publicly objected to the liaison that Wilde had with his son Lord Alfred Read More >

"A cynic is a man who knows the price of everything, and the value of nothing." Oscar Wilde, Lady Windermere's Fan, 1892, Act III I know that the quote above is semantically looking at the words “price” and “value” in a deeper and Read More >

The stamp duty — a tax to be paid on the transfer of certain legal documents — has a long history in England. It was first introduced in 1694 to help finance the war against France. Although initially thought as a temporary solution, the tax Read More >

According to Savills, 2016 and the World Bank, the global real estate market is worth $217tr, 75% of which is residential property. Annual real estate trading has averaged $683bn annually since 2007 and reached $900bn in 2015. This represents Read More >

After graduating from the London School of Economics in 1994 with a degree in Government and History, I spent three years with Credit Suisse Financial Products in London and Tokyo before studying Shipping, Trade and Finance for a year at business Read More >

2017 seems to mark a turning point. Proptech has been building such mass and momentum that it will change the world. Will we soon be able to buy a house with the click of a button? My report PropTech 3.0: the future of real estate, published Read More >

Featuring

Investor's Notebook

Smart people from around the world share their thoughts

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The Macro View

Recent financial news and how it connects across all asset classes

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Technology

Fintech, proptech and what it all means

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Uncorked

A sideways look at the world of wine

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The Architect

Some of the profession's best minds

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The Auctioneer

What's going on in the auction world

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Residential Investor

Making money from residential property investment

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The Professor

Analysis and opinion from the academic sphere

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Face to Face

In-depth interviews with leading figures in the real estate/investment world.

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The Headhunter

Recruitment and career moves

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The Analyst

Investment themes and trends

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The Historian

A look back at previous cycles, events, characters

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The Economist

Money, rates and prices

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Political Insider

The inside scoop on Washington, Westminster and Whitehall

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The Agent

Reflections on estate agency, today and in past times

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Alternative assets

Investing in tangible assets

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