Market Data

International Beat(18)

Panama Soaks Up the Luxury
Set to become the world’s premier five-star resort development, the Viveros Resort and properties, located on an uninhabited island 50 miles off Panama, plans to maintain, respect, and care for the island’s natural environment. The development includes 200 residential estates, a 140-room boutique hotel opening next year, and a 250-room hotel located on a golf course. The island also will feature a private runway, 300-slip marina and yacht club, fine dining, retail, and spa facilities.

Top 5 Most Expensive Office Markets

1. Hong Kong

2. Tokyo

3. London

4. Moscow

5. Dubai, UAE

Source: Cushman & Wakefield

Retail Update: Poland
So far this year, Poland’s total volume of modern retail space is approaching 6.7 million sm, according to Colliers International. And despite the global economic crisis, experts believe that the Polish retail sector will continue with steady growth. Street rents remain high with Warsaw’s rates between €70–€100 ($90–$129 USD) and the rates in Kraków’s Main Square between €65–€80 ($84–$103 USD).

Industrial Update: France
With about 25 million sm of built industrial product, the Ile de France region, which contains metropolitan Paris, has the largest concentration of industrial stock in the country, according to King Sturge. Overall, France’s warehouse market is one of the most mature in Europe, boasting high levels of leasing rather than owner-occupied use. In 1Q09, Ile de France’s prime rents slipped to €52.20 ($67.81 USD) from €55 ($71 USD) in 2007. Currently, new construction still is coming on line with ProLogis’ 44,100-sm warehouse facility in Presles, 45 kilometers outside of Paris.

Office Markets to Watch

Barcelona, Spain — Barcelona’s office market absorbed 31,814 square meters in 1Q09, proving the market still is active, according to CB Richard Ellis. During the same period, 46,786 sm of new office product came on line, and prime rent levels decreased from €25 ($32.35 USD) psm per month to €23.50 ($30.32 USD) psm per month.

Jakarta, Indonesia — Jakarta’s CBD office space recorded positive absoprtion of 28,500 sm in 1Q09 despite a six-month downward trend of leasing activity, reports Cushman & Wakefield. Class A buildings remain the biggest source of demand growth, posting positive net absorption of 34,100 sm in 1Q09, while class B and C both recorded negative absorption.

Stay in Singapore’s All-Inclusive City Hotel

Hoping to make life easier for business travelers, the 108-room Quincy, a boutique hotel located on Orchard Road in Singapore, is an all-inclusive, recession-friendly alternative, reports Reuters. Developed by Singapore-based Far East Organization, the hotel charges a flat daily rate of about 245 Singapore dollars ($162 USD) for meals, beverages, mini-bar usage, laundry, and local calls. Made of steel and glass, the hotel also features a pool, a gym, and free Internet access.

Vancouver’s Notable Industrial Sales Transactions, 1Q09

Price ($ millions)
Size (sf)





Source: Colliers International


Building Progress

Fall 2020

Moody's Analytics Reis Chief Economist Victor Calanog, Phd, CRE, outlines how construction in many sectors will fail to meet expectations for 2020.

Read More

This Is the Altered Normal

Fall 2020

Esri’s data on consumer behavior, demographics, and employment can help real estate adapt in the COVID-19 world.

Read More

Market Trends in Commercial Real Estate

Summer 2020

Office Renters Change Priorities in Wake of Pandemic | Recreational Real Estate on the Rise | Case Study: COVID-19's Impact on Eastern PA Big-Box Market | Hospitality Owners Have Reservations as Occupancy Drop | Seniors Housing Responds to Mounting Pressure from Pandemic | Mixed-Use Developments Can Keep It Local | Supply Chain Reacts to Social Distancing | Self-Storage Weathers Early COVID-19 Storm

Read More

The CMBS Stress Test

Summer 2020

The commercial mortgage-backed securities market is particularly vulnerable amid the COVID-19 pandemic, with borrowers and lenders looking for creative solutions to unprecedented problems.

Read More