We argue it's time to retire the simple "winner-losers" narrative and make the case for retail, senior housing and offices. We then turn to the outlook for industrial and apartment supply and argue that the market is mispricing Gateway and other coastal markets.
Do supply-constrained markets now offer good relative value?
How bright is the outlook for retail, senior housing and, dare we ask, office?
We look at why investors are showing more interest in the battered retail sector, and argue that its adjustment to a new paradigm is now at a cross roads. We turn to the outlook and argue that the sector has lessons to learn from Retail Warehouses.
How has retail adjusted in different ways across Europe?
How close is retail vacancy to a turning point?
Why has retail remained a significant part of the investment landscape?
We look at how the threat of rising inflation on rents is being met by lease terms and a still limited supply of new offices. We then look at how the fast pace of house price inflation across China's cities has created a growing shortfall of affordable housing.
Is the next market boom in China Rental Housing?
Can rental leases defend against rising inflation?
To be sure, rising inflation and interest rates are risks but they still look like the result of a strong demand-side recovery and one that is becoming more broad based.
Dr. Peter Hayes
Global Head of Investment Research, PGIM Real Estate