Fast Market Research recommends "South Korea Real Estate Report Q1 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 03/14/2013 -- The South Korea Real Estate report examines the commercial office, retail, industrial and construction segments in the context of a slowing economy vulnerable to international macroeconomic headwinds and an infrastructure sector which is not living up to its potential.
With a focus on the principal cities of Daegu, Busan and Seoul, the report covers the city-state's rental market performance in terms of rates and yields and examines how best to maximise returns in the commercial real estate market, while minimising investment risk with the country's selection as host of the 2018 Winter Olympics placing South Korean real estate sector back under the spotlight. The successful bid will see a renewed focus on the sector over the coming years in the lead up to the main event. More-likely-than-not, South Korea will also see a general increase in tourist arrivals as a result. In turn, this trend will prove to be a long-term boon to the construction and property industries. All of this, of course, will be taking place under the watchful eye of the investment community, in South Korea and overseas. In light of this, BMI has updated its quarterly South Korea Real Estate Report accordingly to meet this heightened interest in the sector, incorporating our most recent data covering the opening 6 months of 2012.
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BMI's view remains that the real estate industry is simply staying the path until the macroeconomic headwinds have passed, safe in the knowledge of its own solid - if not as exciting - long-term potential. Busan and Daegu are cities with very different stories to Seoul; they are both recovering after years of declining economies and waning traditional industries whereas Seoul is the country's economic and commercial centre.
- The lack of construction growth in Q2 2012 has dampened our outlook for South Korea's construction sector. Although we continue to expect construction activity in the country to return to positive territory in 2012, the lack of infrastructure activity to date, and the sudden reversal in non-residential building activity suggests that this recovery could be weaker than expected. As such, we have revised down our construction and infrastructure forecasts for South Korea to real growth of 2.2% and 1.4% in 2012 (previously 3.5% and 4.0% respectively).
- We expect the economic weakness to extend into 2013 and have seen fit to downgrade our growth expectations to 3.0% from a previous estimate of 4.5%. The revision sees downward adjustments across all growth components, with the largest changes seen in private consumption and net exports. We continue to see the latter as the main drag on growth in 2013.
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