2012-09-05 15:03:59 - New Business market report from Business Monitor International: "Taiwan Real Estate Report Q4 2012"

The Taiwan Real Estate report examines the Commercial Office, Retail and Industrial segments throughout the state in the context of the country´s exported economy, which is particularly susceptible to global economic dynamics. With a focus on the principal city of Taipei, the report covers the rental market performance in terms of rates and yields over the past 18 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of the growing Chinese interest in a relatively stagnant market. After slipping into a technical recession in Q411, we believe that Taiwan's economy is set to face further struggles, stemming primarily from a deterioration in the hightech sector, we expect

exports and investment weakness to be the main drags on growth. This, in turn, has the potential to depress the performance in both the industrial and office sub-sectors of the commercial real estate markets, and any longer-term slowdown would adversely affect private consumption and thus the outlook for the retail sector. Nevertheless, our latest data collection show that an economic slowdown has not yet had a tangible effect on the real estate market, with only prime retail rents noting any form of year-on-year (y-o-y) contraction. In the short term, we anticipate a steady growth in rental rates across the market, and we will be watching the H112 data carefully for any further signs of a slowdown in the market. Key Points Stronger economic ties between Taiwan and mainland China are boosting the Taiwan commercial property market Political stability derived from the re-election of incumbent president Ma Ying-jeou and the victory of the Kuomintang (KMT) in the legislative elections provides opportunities in the business environment: for example, Germany's Volkswagen (VW) is reportedly reconsidering its abandoned plans to produce cars in Taiwan Our forecast for real GDP growth in 2012 has been revised downwards from 3.4% to 2.4% as we expect net exports and decline in investments pose a drag on the economy. We believe that construction activity in Taiwan could remain relatively lacklustre in 2012 and have revised down our construction forecasts for 2012 and 2013, from 5.5% and 8.1% to 4.4% and 7.3% respectively. This pessimistic outlook is primarily due to Taiwan's sizeable trade exposure to China and Europe, as both countries are expected to see a significant slowdown in Taiwan Real Estate Report Q3 2012 © Business Monitor International Ltd Page 5 economic development. However, over the medium term, we expect Taiwan's construction sector to grow at a relatively robust pace as the victory by the previous incumbent, the KMT, is likely to lead to a continuation of infrastructure projects that facilitate greater economic integration with China, as well as greater non-residential investment from Chinese companies.


Full Report Details at
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Partial Table of Contents:

SWOT Analysis
- Taiwan Real Estate/Construction SWOT
- Taiwan Political SWOT
- Taiwan Economic SWOT
- Taiwan Business Environment SWOT
- Real Estate Market Overview
Market Analysis - Office
- Rents And Yields
- Table: Historic Rents, 2011-2012, (USD per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms Of Rental Contract/Leases - H112
- Industry Forecast Scenario
- Table: Forecast Rents (USD per m2/month)
- Table: Forecast Net Yield, 2008-2016 (%)
Market Analysis - Retail
- Rents And Yields
- Table: Historic Rents - 2011-2012 (USD per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms Of Rental Contract/Leases - H112
- Supply And Demand
- Industry Forecast Scenario
- Table: Forecast Rents (USD per m2/month)
- Table: Forecast Net Yield, 2008-2016 (%)
Market Analysis - Industrial
- Rents And Yields
- Table: Historic Rents - 2011-2012 (USD per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms of Rental Contract/ Leases - H112
- Supply And Demand
- Industry Forecast Scenario
- Table: Forecast Rents - (USD per m2/month)
- Table: Forecast Net Yield, 2008-2016 (%)
Forecast Scenarios
- Infrastructure Report
- Table: Taiwan Construction And Infrastructure Industry Data, 2008-2016
- Table: Taiwan Construction And Infrastructure Industry Long-Term Forecasts, 2013-2021
- Construction And Infrastructure Forecast Scenario
- Macroeconomic Outlook
- Table: Taiwan - Economic Activity, 2011-2016
Real Estate Risk Reward Ratings
- Real Estate/Construction Risk/Reward Ratings
- Table: Asia Pacific Real Estate Risk/Reward Ratings
- Business Environment Outlook
- Table: BMI Business And Operation Risk Ratings
- Institutions
- Table: BMI Legal Framework Rating
- Infrastructure
- Table: Labour Force Quality
- Operational Risk
Competitive Landscape
Company Profiles
- BES Engineering Corporation
- Cathay Real Estate Development Company
- Farglory Land Development
- Huaku Development
- Huang Hsiang Construction Corporation
BMI Methodology
- How We Generate Our Industry Forecasts
- Construction Industry
- Bank Lending
- Real Estate/Construction Business Environment Rating
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Full Table of Contents is available at:
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