COVID-19：社交距离定价行为报告 - GreenStreet（英文版）（8页）.pdf

1、P R OP E R T Y I NS I GHT S : C OV I D- 1 9 S S OC I AL L Y DI S T ANC E D P R I C I NG B E HA V I OR C E DRI K L AC HANC E DI R E C T OR OF R E I T R E S E A R C H AUT HOR : ? ? ? ? ?-? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?-? ? ? ? ?-? ? ? ? ?-? ? ? ? ?-? ? ?-? ? ? ?-? ? ?-? ? ? ? ? ? ? ? ?-? ? ?-? ?-?

2、 ? ? ? ? ? ? ?-? ? ? ? ?-? ? ? ?-? ? ?-? ?-? ? ?-? ?-?-? ? ? ? COVID-19s Socially Distanced Pricing Behavior15 March 20203 Exhibit 1: The Theoretical World Meets The Latest Downturn (1) Main indices comprise FTSE 100, DAX, CAC 40 and OMX Stockholm 30. Source: Bloomberg, Green Street Advisors WWW.GRE

3、ENSTREETADVISORS.COM 2020, Green Street Advisors, LLC - Use of this report is subject to the Terms of Use listed at the end of the report. Green Street has published extensively on the impact of changing economic conditions on property values using the more than 30 years of data collected through ou

4、r U.S. operations. The U.S. analysis serves as a great starting point for European investors. Drivers including variability of rent (or “M- RevPAF” per our favourite measure of market fundamentals), operating leverage, and lease length transcend borders and suggest GDP sensitivity should carry throu

5、gh. As in the U.S., we would expect lodging (except that net lease structures in Europe serve as a cushion), retail and office sectors to react most to changes in GDP expectations. Residential and self-storage sectors are most cushioned. This analysis was first discussed in Heard on the Beach: All E

6、yes on the Numerator, 2/25/16. Data not available for all sectors. S or GSA (UK) to the extent that this report has been disseminated in the EEA. Green Street Advisors US is exempt from the requirement to hold an Australian financial services license under the Act in respect of the financial service