Lauren Parr is news editor at Real Estate Capital, a London-based publication that covers property finance throughout Europe.
Anticipating that GDP will decline during the Olympic Games due to traffic chaos, London has planned in reverse, focusing on the opportunities presented for infrastructure and regeneration post-Games. Given London’s housing shortage, the Athletes' Village was designed to accommodate families and individuals and retrofitted for the athletes, not the other way round.
The “Great Reset,” driven by the decline of manufacturing in favor of knowledge economies, is bigger than the shift from agriculture to industry, said Richard Florida at ULI Europe’s Trends Conference.
If Greece were to exit the 17-nation union, the Eurozone's gross domestic product would fall by 2 percent, predicted Andrew Garthwaite, global equity strategist, investment banking, at Credit Suisse, at the ULI Europe Trends Conference in London last week. The effect would spread to Portugal, Italy, and Spain, he added.
In the Emerging Trends in Real Estate Europe 2012 survey of more than 600 European property professionals, Istanbul was identified as the top European market for both investment and development.
“Rather than focusing on asset types, [real estate is] going to be about finding individual opportunities,” says ULI member John Forbes, author of the Emerging Trends in Real Estate Europe 2012 report.