Swiss Property Market Sees Stable, Steady Returns
Thursday, 9 February 2012 12:00
Swiss Property Market Sees Stable, Steady Returns
www.reit.com Speaking with REIT.com during the European Public Real Estate Association's annual conference in London in early September, Luciano Gabriel, chief executive officer of PSP Swiss Property, discussed the outlook for the Swiss real estate market over the next 12 months. Gabriel said the Swiss office market has been very stable in recent years, even during the sub-prime crisis. "It remains stable and we are even seeing an increased demand for office space," Gabriel said. PSP Swiss Property is one of Switzerland's leading real estate companies. Its assets are mainly office and business premises at exclusive locations in Switzerland's key economic centers. "We are not expecting booming development, but constant, positive growth." Gabriel said Switzerland did not experience the same real estate crisis that many other countries went through during the global economic crisis. Since 2000, he said both the commercial and residential markets in the country have seen fairly steady growth. However, he said that consistent performance is a bit of a double-edged sword. When the real estate market does well for a number of years, he said people tend to overestimate the stability of the market and tend to start investing more in lesser locations and lesser properties. "We expect that some investors or developers are overestimating the economic strength of certain locations," Gabriel said. "As long as you stick around Zurich or Geneva it is fine. But those areas are all built <b>…</b>
Source: Swiss Property Market Sees Stable, Steady Returns (Youtube).
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