ML Global Real Estate

By: Research Team

Description

MidLincoln Global Real Estate Index Is an equity index consisting of emerging and developed market real estate stocks and select REITs. The index is calculated with equal weights set for each stock.

Comment

Best last week among stocks was China Evergrande Group (3333:HK) +4.73%, LSR Group PJSC (LSRG:LI) +3.11%, BR Malls Participacoes SA (BRML3:BZ) +2.73%,

While worst last week among stocks was Land Securities Group PLC (LAND:LN) -11.65%, British Land Co PLC/The (BLND:LN) -9.63%, China Resources Land Ltd (1109:HK) -9.28%,

Best last month among stocks was Daelim Industrial Co Ltd (000210:KS) +8.96%, UEM Sunrise Bhd (UEMS:MK) +8.12%, PIK Group PJSC (PIKK:RM) +8.08%,

While worst last month among stocks was Guangzhou R&F Properties Co Ltd (2777:HK) -19.45%, China Resources Land Ltd (1109:HK) -17.23%, China Jinmao Holdings Group Ltd (817:HK) -16.81%,

Best YTD among stocks was Multiplan Empreendimentos Imobiliarios SA (MULT3:BZ) +115.67%, BR Malls Participacoes SA (BRML3:BZ) +91.00%, LSR Group PJSC (LSRG:LI) +65.65%,

While worst YTD among stocks was British Land Co PLC/The (BLND:LN) -34.98%, Land Securities Group PLC (LAND:LN) -29.03%, Sino-Ocean Group Holding Ltd (3377:HK) -27.51%,

Chart: Canadian Real Estate Firms Able To Grow Dividends

Source: ML, ValueWalk

Chart: Colony Capital Inc. Chairman raised a red flag on U.S. real estate saying that the market is 'bubblicious'

Source: Bloomberg, Moodys

Chart: Most Expensive Markets, Top Increases and Top Decreases

Globally, prime office occupancy costs increased 2.4% in the year ending Q1 2016
- Occupancy costs in EMEA increased by 2.1% year-over-year
- Hong Kong (Central) climbed to the top of CBRE's semi-annual ranking of the world's most expensive office markets
- London-Central (West End), now ranked in second place
- Globally, prime office occupancy costs increased 2.4% in the year ending Q1 2016

Source: http://www.zawya.com/

Chart: Global Ofice Yields

Global Ofice Yields

Source: ML

Chart: Net ajusted disposable income per houshold for various countries

Useful to compare to retail penetration

Source: ML

Chart: Food retail penetration for various countries

Source: ML

Chart: Current Retail Yields are soft compared to their historical averages for Moscow assets

Source: ML

Chart: Retail stock per 1000 persons

Source: ML

Chart: Moscow Warehousing Yields are soft compared to their historical averages for Moscow assets

Source: ML

Chart: Average warehousing stock per 1000 persons for select countries

Source: ML

Real Estate Flows, Yields and News