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Chapter 3 Market Dynamics

Chapter 3 Market Dynamics. EU Demographics. Old and aging 5 keys for renewal: Family-friendly workplaces Flexicurity Innovative , dynamic business environment Integration of immigrants sustainable social net and generational equity.

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Chapter 3 Market Dynamics

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  1. Chapter 3Market Dynamics

  2. EU Demographics • Old and aging • 5 keys for renewal: • Family-friendly workplaces • Flexicurity • Innovative , dynamic business environment • Integration of immigrants • sustainable social net and generational equity

  3. Moderates projected labor shortages, but not the solution • First challenges are integration, acceptance • Stuck in low paying jobs • Alienation, disaffection impacts 2nd and 3rd generations Immigration

  4. Country of Origin

  5. Continent of Origin

  6. Lisbon Strategy: integrate young workers, keep older workers employed • Flexicurity—protect the worker, not the job • 4 priorities: • Research and innovation • Invest in people • Unlock business potential • Energy and climate change Employment

  7. First rung on the career ladder is hard to reach • High school drop-out rates (double U.S. rate) • Good paying jobs for young workers = more demand for homes • Vibrant economies draw foreign investment Youth Employment

  8. Smart • Innovation Union • Youth on the Move • Digital Agenda • Sustainable • Resource-Efficient Europe • Policy for the Globalization • Inclusive • New skills and jobs • Platform against poverty Europe 2020 Roadmap for recovery and progress

  9. Residential Real Estate • Real estate bubbles follow “horseshoe” around Europe • Spain and Ireland rapid price appreciation • 2006, more housing units were under construction in Spain than in Germany, France, Italy, and the U.K. combined • Huge oversupply in some markets

  10. Few Foreclosures • Social support systems for unemployed • Job security • less excess inventory • Few low-income home buyer initiatives • Tough penalties for loan default

  11. Homeownership • Overall EU homeownership rate: 70% • Except Germany • High rates in former communist countries due to privatization

  12. Signs of fragile recoveries • Relatively brief crash • No market meltdown • Some quick recoveries • “Normal” won’t be like boom times • Little new construction • Localized supply gluts • Worst performers: Ireland, Spain, East/Central Europe, Greece, Mediterranean RICS, 2009European Housing Review 8 Market Projections

  13.  FDI Outward FDI Inward 

  14. Why You Need to Know • Your own property • Regulation of real estate profession • Business environment • Professional Services Directive • Integrated transaction procedures and processes • Ability to establish a business • Common Frame of Reference • Search for tax revenues • Consumer protection legislation • Subsidiarity and proportionality • Sustainability initiatives • Focus on remodeling and retrofitting

  15. Build Your Network • NAR’s Cooperating Associations • Presidents Liaisons • Networking Information System

  16. NAR Annual Expo and Convention • Barcelona Meeting Point • CEREAN Conference • Expo Real • FIABCI World Congress • MIPIM Europe • RECon • SIMA • More…….. Expos & Events

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