Opportunity in 2024 – A vintage advantage

The real estate market has faced sharp dispersion in outcomes over the past few years and will likely continue to shift in the face of mega forces. The BlackRock Investment Institute has identified aging demographics as a mega force. As a result of improved healthcare and longer life expectancy, the over-65 cohort is projected to increase significantly in the US and Europe by 2040. The so called “silver wave” will mean how we use real estate will shift; demand will likely increase for health and social services, age-restricted and care housing.

The world’s 1.8 million Millennials are aging and forming families. Globally, this will drive demand for the residential sector. In the U.S. we see residential in desirable suburbs are attractive over the next few years. In Europe, a lack of housing for sale and higher mortgage rates has made renting a lot more attractive. Millennials are entering into peak consumption and earnings phase of their lives. This will likely point to higher goods spending, thus driving demand for industrial through e-commerce, and necessity-based retail.

Comparison of price corrections by region

Investing involves risk, including possible loss of principal. Asset allocation and diversification may not protect against market risk, loss of principal or volatility of returns. Actual investment outcomes may vary. The model portfolios should not be construed as investment advice. There is no guarantee that these investment strategies will work under all market conditions or are suitable for all investors and each investor should evaluate their ability to invest long-term, especially during periods of downturn in the market. No representation is being made that any account, product, or strategy will or is likely to achieve profits. The above are representations of various model portfolios and no guarantee is being made that the structure of other similar portfolios will remain the same or that similar results will be achieved.

Risk Warnings

Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time.

Real Estate Funds: Are funds which invest exclusively or almost exclusively in equity or debt, or equity or debt related instruments. Therefore, in addition to risks associated with investment in such equity or debt instrument, the performance of real estate funds may be material and adversely affected by risks associated with the related real estate assets. Past performance of funds investing in real estate are not indicative of the performance of the real estate market as a whole and the value of real property will generally be a matter of a Valuer’s opinion rather than fact. The value of any real estate investment may be significantly diminished in the event of a downturn in the real estate market. Real estate investments are subject to many factors including adverse changes in economic conditions, adverse local market conditions and risks associated with the acquisition, financing, ownership, operation and disposal of real estate.

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