Supporting growth, jobs and sustainability
Real estate, as a general term, describes the built environment, which plays a vital role in every aspect of the European economy, society and environment. Businesses and society can't function without the services of commercial property, including the provision of offices, shops, factories, housing and many other forms of real estate.
The commercial property sector delivers and manages the infrastructure needed for entrepreneurship to thrive. It is therefore a fundamental source of employment and economic growth, and a major contributor in addressing two critical challenges of our time: providing liveable and functioning cities for a growing urban population and reducing the environmental footprint of the built environment.
The Property Business
There is a greater understanding of the role real estate plays in the functioning of our modern society and economy. Clearly any tax or regulatory moves affecting this vital component should be considered with the fullest understanding of everyday operation of the property businesses themselves, and the tenants and surrounding communities which will be impacted.
REAL ESTATE STUDIES
Listed sector: vast potential for Europe's economy
New report identifies the pivotal role played by commercial RE in the European economy, offering a wide breadth of opportunities to help stimulate much needed economic growth and investment if the right policies are put into place: 3.8 million employed, EUR 300 billion contribution etc.
NAIOP, the Commercial Real Estate Development Association produced a 2011 report highlighting the role the RE and construction sectors play in the US economy. Direct & indirect sector impact of construction spending was 15% GDP.
What role does real estate have in the development of a community? Much rests on local infrastructure and incentives, yet the private ownership of property and the inter-relationship between workspace, recreation, residential and retail is often the glue which bonds a successful society and economy.