OFFSHORE
STRONG GROWTH IN THE TECH SECTOR CONTINUES TO DRIVE DEMAND FOR OFFICES AND HOMES IN SAN FRANCISCO AND SILICON VALLEY( COMMONLY KNOWN AS THE BAY AREA). RESIDENTIAL SPACE IS ALSO IN SHORT SUPPLY.
“ Young tech workers have long favoured life in the city over the suburbs, and San Francisco apartment rents have increased by nearly 15 % in the past year … Median home prices in San Francisco have also increased steeply … [ to ] 37 % above their peak before the city’ s present housing crisis.”( Andrea Arata, Market Researcher, Financial Analyst, Newmark Cornish & Carey)
MARK CLEVERLY
HEAD OF COMMERCIAL DEVELOPMENT AT ARCADIS“ Since the referendum vote on Brexit, we have seen more Chinese development companies looking to acquire UK development sites or existing assets. They currently enjoy a discount against sterling, so they are actively seeking new global investment opportunities to counter a downturn in their own domestic markets.”
STEPHEN HOGG
HEAD OF NORTH WEST RESIDENTIAL AT JLL“ Our five-year forecast points to the continued strength of the residential sector in the Northern Powerhouse. Manchester now offers some of the best returns in the UK and is at the forefront of the build-to-rent market in the UK regions.”
DR. CHRISTIAN H. KÄLIN
CHAIRMAN OF HENLEY & PARTNERS“ More and more governments are seeing these investment migration programs as an innovative way of driving economic growth, securing muchneeded foreign investment as well as enriching their own nation by attracting people to their shores who have proven business success, many talents and valuable networks.”
www. reimag. co. za MARCH 2017 SA Real Estate Investor 39