2016年瑞士房地产市场研究报告.docxVIP

INVESTMENT SOLUTIONS PRODUCTSEconomic ResearchSwiss Real Estate Market 2016Banished from paradiseMarch 2016Rental apartmentsS upply galloping ahead of demandPage 23Office property Falling demand exacerbating cut- throat competitionPage 36Crowdfunding Will the crowd revolutionize investing?Page 18Table of contentsManagement summary4Owner-occupied housing7DemandSupply7Market outcome10Outlook for owner-occupied housing ineal estate crowdfunding: Alternative form offinancing on the rise18Rental apartments23Demand23SupplyMarket26outcome27Outlook for rental apartments in 201631Digitalization: Digital revolution spreads to theconstruction sector32Office property36Demand36Supply39Market outcome41The 15 largest office property markets at a glance43The five largest office property markets in detail43Zurich44Geneva46Berne48Basel50Lausanne52Outlook for office property in 201654Retail property55Demand55SupplyMarket57outcome58Outlook for retail property in 201663Medical centers: Sharing economy in healthcare64Real estate as an investment67Direct real estate investments67Indirect real estate investments71Outlook for real estate as an investment in 201676Factsheets: Regional real estate markets at a glance77Management summaryBanished from paradiseFor more than ten years, Switzerlands real estate markets have enjoyed near-paradise conditions of continuously increasing prices and rents, booming demand and low vacancies in the wake of low interest rates. In recent years, however, there have been growing signs that a different era is gradu- ally dawning. Though the future isnt all too bleak, but the fruits are no longer hanging so low and real estate investors will find it difficult to come by such easy returns. L ast years negative interest rates more or less lit the touch paper for the final phase. Going forward, hard work will once again be required in order to wing out the hoped-for returns from the real estate market.Owner-occupied housing Page 7Special focus:Real estat