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Sector Review: Stable-To-Positive Outlook On Taiwan-Based Real Estate Securitizations Despite Mixed Commercial Property Performance Sep 11
Standard & Poors, Sep 2011
Abstract
Taiwan's recovering economy continues to support strong sales of commercial properties on the island, despite stagnant occupancy rates and rents in office buildings over the past few quarters. However, a number of factors could constrain the market's performance over the next year, including global economic uncertainties, the rise of nontraditional financial property buyers with weaker financing flexibility, declining rental yields, and lower-than-expected growth in Chinese tourist numbers. Taiwan Ratings Corp. believes that several key factors will support high sales volumes and prices in Taiwan's commercial property market over the next 12 months. These include the island's moderate GDP growth, ample market liquidity, and low interest rates, along with a lack of locally available investment instruments and improved relations between Taiwan...
Companies mentioned in this report are: Kee Tai Star Real Estate Investment Trust,Trident Real Estate Investment Trust,Fubon Number Two Real Estate Investment Trust,Shinkong Number One Real Estate Investment Trust,Cathay Number One Real Estate Investment Trust,Fubon Number One Real Estate Investment Trust,Gallop Number One Real Estate Investment Trust
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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