RICS Weekly Real Estate Comment - Template

RICS GLOBAL REAL ESTATE WEEKLY March 6th 209 www.rics.org Middle Eastern market sees steep turnaround   “The latest  capital values and investment interest. Rents are falling • The latest global commercial property survey from RICS across more than 90% of the countries surveyed by RICS RICS global  shows that no real estate markets have been able to es-with the greatest downward pressure occurring in parts of cape the worsening economic climate with capital values commercial  Asia. Taiwan, Hong Kong, Singapore and India were all now plummeting across many emerging markets. ranked in the bottom five for rental performance as the property  collapse in world trade has smashed export earnings and • The Middle East has seen a sharp fall from grace in the business confidence. survey  most recent survey period, with the previously top ranked UAE echoing the fortunes of the oil price. Similar pessi-shows dete‐ Capital values fell for first time in the Middle East mism has also been expressed in Russia where additional rioration  worries over macro stability have weighed on investor % Net balnce sentiment. The UAE saw capital values plummet from a across all positive balance of 65 percent to a negative balance of 83 Change in commercial property capital values Capital values Balance of respondents,%percent. The outlook for future performance has in conse-sectors ”  rising2007 2nd Half 2008 1st Qtr 2008 2nd Qtr 2008 3rd ...