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Nicholas Spiro
Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.
The factors in Australia’s affordability crisis can be seen elsewhere in Asia, making it important for investors not to overlook their own markets.
Markets aside, the economy faces structural challenges. Beijing favours an unbalanced growth mix that makes it harder to boost demand.
The private student accommodation market shows great potential, but repurposing existing properties will only go so far to satisfy growing demand.
Beijing and Berlin need to restore confidence in their economies, but political and ideological resistance to rises in public spending runs deep.
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Despite their many differences, Hong Kong and Singapore’s property markets both show that a monetary easing cycle is not a panacea.
Surging stock markets show investors pay no heed to the dangerous dysfunction in US politics, but ratings agencies are ahead of the curve.
While multiple factors drive market booms, the advances in real estate transparency in Asia are significant and should not be downplayed.
Despite fears China has entered have entered a ‘balance sheet recession’, the country has more tools than Japan to reflate its economy.
Housing has risen to the top of Taiwan’s policy agenda, but differences between the government and central bank are slowing progress.
Central banks might have kept interest rates too high for too long. Cutting them too quickly could prove even more costly.
Lower office rents, a consumption boom and big gains in market transparency and liquidity are driving India ahead while others are lagging.
The Federal Reserve’s priority must be to ensure fears of a deeper downturn do not become self-fulfilling, especially given what the US election could unleash.
South Korea and Australia provide a cautionary tale of the limits of monetary policy when other factors also influence the outlook for residential property.
While her economic policies are not the answer, she would not damage US democracy, undermine Federal Reserve independence and sow chaos.
The shifts in rental markets such as Hong Kong, Singapore and Bangkok have shared themes which need to be put into proper perspective.
Concerns about the sovereign debt market shouldn’t be related to threats to financial stability but the risk of a more severe economic downturn.
Japan’s real estate industry is not immune to the fallout from ending ultra-loose policy, but its market’s appeal must not be underestimated.
The US is not the only source of volatility in the global economy, but the size of its economy and capital markets make it the most worrying.
Evidence points to a slowdown in Singapore’s residential property market, but a normalisation of activity is being misconstrued as a crisis.
While Donald Trump returning as president poses political risks, the US dollar is more insulated against his policies than many might think.
Hong Kong’s real estate sector has endured a series of shocks, yet it is far more resilient than dire reports of its state might suggest.
China’s trade surplus and deflationary policies propping up its push for hi-tech manufacturing mean a sharp US response is likely, whoever wins the November election.
The advantages that carried Asia’s office market through the Covid-19 pandemic are weakening amid a supply boom and shifting priorities.
While investors appear sure of a Trump victory, they have yet to come to terms with the far-reaching consequences of Trump’s re-election.
Unlike in Japan, Australia’s restrictive planning rules and housing policy constrain the market’s ability to respond to rising demand.
The political chaos and the sway of populist politicians in the US and France are no reason to overlook the many problems facing Britain.
While many investors would love to gain exposure to Asia’s data centre sector, few are willing or able to deal with its associated risks.
US and European politics are entering a new and much more dangerous phase that has major consequences for the global economy and markets.
Rental growth is a cause for concern in Asia’s residential property market, but it is also a key driver of returns in the commercial sector.
Rather than hugging a broad index or betting on a certain country, investors must be discerning and focus on themes and trends in each country.
