Seven Black Friday bargains
By Sonia Rach, 24 Nov 17
Consumers in the UK and globally will seek out bargains on Black Friday, but what about the investment world? Here are the views of seven managers and areas in the market that they see as undervalued.
The household formations in Germany are running at the highest levels since the ’90s economic boom years, according to Rogier Quirijns, senior vice president and portfolio manager at Cohen & Steers.
Nowhere is this more evident than in Berlin, according to Quirjins, who believes that “while the public sector and tourism are playing central roles in Berlin’s revitalisation, the city is quickly becoming the Silicon Valley of Europe.
“Although residential supply is increasing in Germany, it has not been nearly enough to meet demand, particularly in Berlin. It is estimated 20,000 new housing units are needed each year to meet new and pent-up demand in the city.
“However, the market has supplied only half this amount annually in recent years, which is helping to drive rents higher. Quality office space in Berlin is also scarce, with strong job growth driving low vacancy rates and rising rents amid the creation of limited new supply.
“Berlin office take-up has set records in each of the last several years, but supply has met only a quarter of this demand.”
Tags: Antipodes Partners | Ashburton | Cohen & Steers | Edentree | Federated Hermes
