Industry Report Card: European Real Estate Oct 02

  • ID: 1793594
  • October 2002
  • Region: Europe
  • Standard & Poors
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  • AP Fastigheter AB
  • Cofinimmo S.A./N.V.
  • France (Republic of)
  • Green Property Ltd.
  • Kaufman & Broad S.A.
  • Land Securities PLC
  • MORE

The general outlook for the sector remains negative. Although interest rates are low and capital values remain high, commercial property rents have continued to fall as vacancy rates rise across Europe. Both a strong recovery and a further deterioration in the world economy pose risks to property companies. A strong recovery would require interest rates to rise, with the result that companies with short hedges would see their margins being squeezed. Recovery in the equity markets, on the other hand, would result in capital flows out of property and falling capital values. With rents falling and vacancy rates on the rise, there is a concern that existing property valuations have been kept artificially high by more aggressive valuation yields, and...

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- Stockholm (City of)
- France (Republic of)
- MEPC Ltd.
- Land Securities PLC
- Sophia
- Paris (City of)
- Unibail-Rodamco
- Vasakronan AB
- Capital Shopping Centres PLC
- Societe Fonciere Lyonnaise S.A.
- Jones Lang LaSalle Inc.
- Humlegarden Fastigheter HB
- Klepierre S.A.
- AP Fastigheter AB
- Green Property Ltd.
- Derwent London PLC
- Cofinimmo S.A./N.V.
- Gecina
- Befimmo S.A.
- Kaufman & Broad S.A.

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