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Reviewing the impact of the 2008/2009 global financial crisis (GFC) on international property markets and property professions

Eves, Chris (2010) Reviewing the impact of the 2008/2009 global financial crisis (GFC) on international property markets and property professions. In Abdullah, Khuzaimah binti, Abd Rasid, Faziah binti, & Nordin, Norliza binti (Eds.) Proceedings of the International Real Estate Research Symposium, National Institute of Valuation (INSPEN), Malaysia, pp. 77-93.

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Abstract

The global financial crisis that impacted on all world economies throughout 2008 and 2009. This impact has not been confined to the finance industries but has had a direct and indirect impact on the property industry worldwide from both an ownership and investment perspective.

Property markets have experienced various levels of impact from this event, but universally the greatest impact has been on the traditional commercial and industrial property sectors from the investor perspective, with investment and superannuation funds reporting significant declines in the reported value of these investments.

Despite the very direct impact of these declining property markets, the GFC has also had a very significant indirect impact on the various property professions and how these professions are now operating in this declining property market. Of particular interest is the comparison of the property market forecasts in late 2007 to the actual results in 2008/2009.

Impact and interest:

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ID Code: 50102
Item Type: Conference Paper
Keywords: Global Financial Crisis, Property Markets, Property Professions, Commercial Property, Industrial Property, Residential Property
ISBN: 9789839921779
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500) > Housing Markets Development Management (120503)
Divisions: Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2010 The Auhtors
Deposited On: 04 May 2012 09:36
Last Modified: 22 Jun 2012 07:51

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