Latin America & the Caribbean
Latin America and the Caribbean Commercial Real Estate Market Year in Review
Jan 20th
The region continued to grow and expand throughout 2011, despite the sluggish US recovery and turmoil in the eurozone. The initial Latin American growth estimate for 2011 was about 5%. However, due to the US and the European economic problems, it was adjusted down to 4.3% by mid-year. Even so, the region’s leaders all reported healthy growth figures and real estate markets grew unabated.
At the outset of 2011, there was fear that strong growth in the region would lead to economic overheating, increased inflation and subsequently higher real estate values. Most likely due to the slow recovery in the US and economic “congestion” in Europe, these fears did not materialize. In fact, even the precipitous climb in Brazilian real estate values over the last three years slowed considerably. The region benefitted from a significant increase in property investment by domestic funds, which had previously been deploying capital overseas.
Although the Latin American countries grew in 2011, growth in the Caribbean region was mixed. Cuba, Anguila, Curaçao and the Cayman Islands experienced a strong tourism recovery with close to double digit growth rates, while many other island countries experienced zero or negative growth. The region failed to exceed an overall growth rate of 2% due to declines in remittances and tourism.
NAI Global Expands Caribbean Presence with Bahamas Realty Limited
Oct 25th
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it has expanded its Caribbean presence into the Bahamas. The Commercial Department of Bahamas Realty Limited will now operate as NAI Bahamas.
NAI Bahamas, formerly Bahamas Realty Commercial, is one of the largest and most respected real estate companies in the Bahamas, spanning 62 years and three generations of active involvement in the Bahamian real estate industry. The firm offers a broad array of commercial real estate services including investment sales, leasing, tenant representation, property management, appraisal/valuation, research, hospitality and consulting. In addition, the firm specializes in dealing with international buyers and offshore companies who wish to take advantage of the Bahamas’ attractive tax-free status. More >
The Future of the Panama Office Market
Jun 17th
Recently, after participating as a speaker at a Real Estate Investment forum hosted in Panama by NAI Panama, several local office developers were curious to get my thoughts about the 69% increase in the Panama office inventory that is coming on-line over the next two to three years and how that will affect Contract Rent Rates.
Mexico Rife With Opportunity
Jun 15th
I could not have said it better. David Lynn, the Managing Director of investment strategy at ING Clarion Partners, published a synopsis of Mexico’s investment desirability that is concise and spot on ( ).
With all the unfortunate press Mexico is getting due to the USA’s uncontrolled illegal drug consumption, he provides a lucid explanation why Mexico is a horse to bet on. First I would say, borrowing from his report, is Mexico’s economic and manufacturing integration with the USA – it is right next to the largest and most prosperous single-market in the world and it forms a part of its economic well-being. I cannot remember the name of the Frenchman who stated it, but he said, “Just give me one square meter of land along the US territory and I could build an empire” or something to that effect, anyway. And, if a Frenchmen of all people says something positive about the USA, there must be some merit in it. More >
Columbia’s Agricultural Expansion
Jun 1st
I was pleased to see this article from Reuters reporting how Colombia’s agricultural future is improving and within a decade could become a small agro-industrial power. With the FARC beaten back and the Colombian government able to wrest control of most of the countryside, the land can now be returned to a more benign and productive use. According to the article, at least 41 million acres (16.5 million hectares) of agricultural land could be brought on-line. Colombia’s successful track record in generating domestic investment, combined with its ability to attract international investment, this sector should be booming in the not too distant future. More >
Most Latin American Economies Provide Strong Engine for Commercial Real Estate Growth
Mar 25th
Before the Q1 2011 comes to an end, I should probably give my 2010 Year End update. It was an exciting year in most Latin American countries and a notable one in a few others, but for this latter group it wasn’t necessarily the kind of notoriety that most of us free market ideologues enjoy. The majority of the countries in Latin America are continuing the strong growth and development trend with the exception of those countries (Bolivia, Nicaragua and Ecuador) ruled by presidents who believe the More >
New NAI Global Reports Compare Commercial Property Prices, Trends & Business Practices in International Markets
Mar 21st
NAI Global, the world’s premier network of commercial real estate firms and one of the largest real estate service providers worldwide, today announced the release of two new reports for corporate decision makers and investors that highlight global commercial real estate trends and provide insight into transaction and occupancy practices around the world.
NAI Global’s 2011 Global Property Prices & Trends report provides key demographic highlights along with current rental rates and investment yields for 140 global markets. The report provides prime net rental rates, investment yields and rental rate comparisons by property type for Office, Retail and Industrial properties.
The 2011 NAI Global International Property Guide provides insight into key local business customs and practices for 60 countries More >
Latin America Has a New Role in the New World Order?
Mar 18th
In a recent Global Insight piece that appeared in the Financial Times (“Chavez gestures mask rising LatAm clout”), the author tries to explain how Latin America’s time has come to play a larger diplomatic role in world events. He identifies several actions; one is how two Latin American countries are stepping out of their historic non-interventionist shell. Two others are that China is active in wooing Latin American countries not just for their resources, but for their support in dealing with Taiwan and that US President More >
