{"id":2673,"date":"2020-02-14T01:29:30","date_gmt":"2020-02-13T22:29:30","guid":{"rendered":"http:\/\/nalog.fr\/tregilimleri-piyasalar-ticari-gayrimenkul-avrupa-ve-amerika-birlesik-devletleri-fiyat-verim-ve-umutlari\/"},"modified":"2020-02-14T01:29:30","modified_gmt":"2020-02-13T22:29:30","slug":"tregilimleri-piyasalar-ticari-gayrimenkul-avrupa-ve-amerika-birlesik-devletleri-fiyat-verim-ve-umutlari","status":"publish","type":"post","link":"https:\/\/nalog.fr\/tr\/tregilimleri-piyasalar-ticari-gayrimenkul-avrupa-ve-amerika-birlesik-devletleri-fiyat-verim-ve-umutlari\/","title":{"rendered":"E\u011filimleri piyasalar, ticari gayrimenkul, Avrupa ve AMER\u0130KA birle\u015fik devletleri: fiyat, verim ve umutlar\u0131"},"content":{"rendered":"<p>G\u00f6re, JLL, ilk yar\u0131s\u0131nda 2016 y\u0131l\u0131nda k\u00fcresel ticari gayrimenkul yat\u0131r\u0131m oldu yakla\u015f\u0131k 260 milyar euro, %10 daha az, daha ilk yar\u0131s\u0131nda 2015-guo. Bu b\u00fcy\u00fck \u00f6l\u00e7\u00fcde nedeniyle kriz etkinlik iki b\u00fcy\u00fck pazarlarda d\u00fcnya \u2014 amerikan yat\u0131r\u0131m dolar azalarak 16 % nedeniyle \u0443\u043a\u0440\u0435\u043f\u0438\u0432\u0448\u0435\u0439\u0441\u044f al\u0131m \/ sat\u0131m, ve ingiliz (-28 %), burada h\u00fck\u00fcm s\u00fcren belirsizlik nedeniyle \u00ab\u0411\u0440\u0435\u043a\u0437\u0438\u0442\u043e\u043c\u00bb.<\/p>\n<p>     <i><\/i><\/p>\n<p>D\u00fc\u015f\u00fcn\u00fcn piyasalar karl\u0131 gayrimenkul yedi \u00fclke:<\/p>\n<ul>\n<li>Avusturya,<\/li>\n<li>\u0130ngiltere,<\/li>\n<li>Almanya,<\/li>\n<li>\u0130spanya,<\/li>\n<li>ABD,<\/li>\n<li>Fransa,<\/li>\n<li>\u00c7ek cumhuriyeti.<\/li>\n<\/ul>\n<h2 id=\"1\">Avusturya<\/h2>\n<p><strong>Yat\u0131r\u0131m<\/strong>. \u0130lk yar\u0131s\u0131nda 2016 y\u0131l\u0131 ticari gayrimenkul Avusturya girmi\u015ftir 1,5 milyar euro olarak 8,5 kat daha fazla ayn\u0131 d\u00f6nemde 2015-guo. Bunun nedeni, ilk alt\u0131 ay i\u00e7in bir y\u0131l yap\u0131lal\u0131 birka\u00e7 \u00f6nemli f\u0131rsatlar aras\u0131nda olan \u2014 sat\u0131\u015f kule \u0130ZD i\u00e7in 270 milyon euro. Avusturya pazar\u0131nda hakim yat\u0131r\u0131mc\u0131lar Almanya.<\/p>\n<p><strong>Ofisleri<\/strong>. Ofisler vard\u0131 %54&#8217;\u00fc yat\u0131r\u0131m y\u0131l\u0131 ilk alt\u0131 ay, bir y\u0131l. Talep Viyana&#8217;da a\u015f\u0131yor, ve bo\u015f sadece %6 bina. Aktif ofis pazar\u0131 engeller ve yetersiz bir teklif. Ortalama verim \u2014 4,2 %, y\u0131ll\u0131k.<\/p>\n<p><strong>Ticari gayrimenkul<\/strong>. Ben \u00e7eyre\u011finde 2016 segment oldu, dolay\u0131s\u0131yla sadece %1 yat\u0131r\u0131m, ama 2015 y\u0131l\u0131nda bu ortalama yakla\u015f\u0131k d\u00f6rtte bir sermaye. Ortalama verim \u2014 %4-5 oran\u0131nda.<\/p>\n<p><strong>Depolar<\/strong>. Bu sekt\u00f6rde yeterli de\u011fil kaliteli bir \u00fcr\u00fcn. Al\u0131c\u0131lar depolar \u00e7o\u011fu i\u015fgal, onlar\u0131n kendilerini de\u011fil, kira. Verim \u2014 %6,5, Viyana ve %7 Graz.<\/p>\n<p><strong>Konut<\/strong>. 2008 ile 2015 y\u0131llar\u0131 daire fiyatlar\u0131 Viyana&#8217;da b\u00fcy\u00fcd\u00fc 75 %. Al\u0131c\u0131lar aras\u0131nda sermaye piyasas\u0131nda %40&#8217;\u0131 yabanc\u0131lar\u0131n. Ortalama getiri konut \u2014 3,5\u2212%4 oran\u0131nda.<\/p>\n<table>\n<tr>\n<th>Emlak tipi<\/th>\n<th>Kiralama,<br \/>euro\/m2<br \/>ay<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>kira, %<\/th>\n<th>Fiyatlar\u0131<br \/>euro\/m2<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>fiyatlar, %<\/th>\n<th>Verim,<br \/>%<\/th>\n<th>Tahmin<br \/>\u00fczerinde 2016-2017<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Viyana<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>20,8<\/td>\n<td>-0,6<\/td>\n<td>6 087,8<\/td>\n<td>13,9<\/td>\n<td>4,1<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>240,0<\/td>\n<td>0,0<\/td>\n<td>82 285,7<\/td>\n<td>17,1<\/td>\n<td>3,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>88,0<\/td>\n<td>0,0<\/td>\n<td>20 705,9<\/td>\n<td>2,9<\/td>\n<td>5,1<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>4,8<\/td>\n<td>0,0<\/td>\n<td>876,9<\/td>\n<td>11,5<\/td>\n<td>6,5<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>14,4<\/td>\n<td>-2,0<\/td>\n<td>4 928,0<\/td>\n<td>8,4<\/td>\n<td>3,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Graz<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>11,3<\/td>\n<td>0,0<\/td>\n<td>2 076,9<\/td>\n<td>9,2<\/td>\n<td>6,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>88,0<\/td>\n<td>0,0<\/td>\n<td>24 000,0<\/td>\n<td>8,0<\/td>\n<td>4,4<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>40,0<\/td>\n<td>0,0<\/td>\n<td>7 619,0<\/td>\n<td>3,2<\/td>\n<td>6,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>4,0<\/td>\n<td>0,0<\/td>\n<td>685,7<\/td>\n<td>7,1<\/td>\n<td>7,0<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>11,3<\/td>\n<td>-2,8<\/td>\n<td>3 055,0<\/td>\n<td>3,6<\/td>\n<td>4,4<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"2\">Birle\u015fik krall\u0131k<\/h2>\n<p><strong>Yat\u0131r\u0131m<\/strong>. Birle\u015fik krall\u0131k \u2014 avrupa&#8217;n\u0131n en b\u00fcy\u00fck gayrimenkul pazar\u0131. 2015 y\u0131l\u0131nda ticari tesisler, bu \u00fclkenin yat\u0131r\u0131m oldu 73 milyar euro olan hemen hemen yar\u0131s\u0131 geldi greater London. Bu durumda, 43 % yat\u0131r\u0131mc\u0131lar, yabanc\u0131lar, a\u011f\u0131rl\u0131kl\u0131 olarak amerikal\u0131lar. \u0130lk yar\u0131s\u0131nda 2016 yat\u0131r\u0131m miktar\u0131 bu pazar segmentinde ger\u00e7ekle\u015fti, yakla\u015f\u0131k 29 milyar euro oldu\u011fu, %28 daha az ayn\u0131 d\u00f6nemine g\u00f6re 2015-guo.<\/p>\n<p><strong>Ofisleri<\/strong>. Ben \u00e7eyre\u011finde 2016 ofisler zorunda kald\u0131 42 % yat\u0131r\u0131m. Kiralar art\u0131yor, verim azal\u0131r. Ofisler, premium segmentte Londra getirmek 3,6 % y\u0131l.<\/p>\n<p><strong>Ticari gayrimenkul<\/strong>. Ben \u00e7eyre\u011finde 2016 segmente yat\u0131r\u0131m oldu 14 % yat\u0131r\u0131m. Bahis verim prim nesneleri street-perakende e\u011filimi hisse senedi piyasalar\u0131 (3,4, y\u0131ll\u0131k % Londra).<\/p>\n<p><strong>Depolar<\/strong>. Ben \u00e7eyre\u011finde 2016 depolar vard\u0131 12 % ek. Sekt\u00f6r\u00fcn geli\u015fimine olumlu etkiler b\u00fcy\u00fcme online ticaret fiyatlar\u0131 sunuyor. Verim depolar Londra \u2014 4,8 %.<\/p>\n<p><strong>Konut<\/strong>. 2007 y\u0131l\u0131ndan bu yana (bir \u00f6nceki zirve) ve 2015 y\u0131l\u0131 konaklama, Londra da artt\u0131 50 %. \u0130ngiltere&#8217;de ayn\u0131 d\u00f6nemde b\u00fcy\u00fcme oran\u0131 sadece %7. Verim daire ingiliz ba\u015fkentinde \u2014 2,4 %.<\/p>\n<table>\n<tr>\n<th>Emlak tipi<\/th>\n<th>Kiralama,<br \/>euro\/m2<br \/>ay<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>kira, %<\/th>\n<th>Fiyatlar\u0131<br \/>euro\/m2<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>fiyatlar, %<\/th>\n<th>Verim,<br \/>%<\/th>\n<th>Tahmin<br \/>\u00fczerinde 2016-2017<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Londra<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>100,0<\/td>\n<td>9,5<\/td>\n<td>33 333,3<\/td>\n<td>17,1<\/td>\n<td>3,6<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>500,0<\/td>\n<td>7,7<\/td>\n<td>176 470,6<\/td>\n<td>15,6<\/td>\n<td>3,4<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>415,0<\/td>\n<td>-5,0<\/td>\n<td>124 500,0<\/td>\n<td>0,9<\/td>\n<td>4,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>16,3<\/td>\n<td>0,0<\/td>\n<td>4 126,3<\/td>\n<td>5,3<\/td>\n<td>4,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>25,0<\/td>\n<td>6,2<\/td>\n<td>12 574,0<\/td>\n<td>8,2<\/td>\n<td>2.4 ghz<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Manchester<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>39,2<\/td>\n<td>1,6<\/td>\n<td>9 400,0<\/td>\n<td>1,6<\/td>\n<td>5,0<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>135,0<\/td>\n<td>5,8<\/td>\n<td>38 117,6<\/td>\n<td>18,2<\/td>\n<td>4,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>175,0<\/td>\n<td>1,5<\/td>\n<td>44 210,5<\/td>\n<td>6,8<\/td>\n<td>4,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>7,3<\/td>\n<td>4,3<\/td>\n<td>1 581,8<\/td>\n<td>4,3<\/td>\n<td>5,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>12,4<\/td>\n<td>n\/a<\/td>\n<td>3 402,0<\/td>\n<td>3,5<\/td>\n<td>4,4<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"3\">Almanya<\/h2>\n<p><strong>Yat\u0131r\u0131m<\/strong>. ALMANYA ikinci b\u00fcy\u00fck pazar\u0131 Avrupa gayrimenkul sonra Yap\u0131ld\u0131. \u0130lk yar\u0131s\u0131nda 2016 tarihinde ticari nesneleri Almanya girmi\u015ftir 17,5 milyar euro, %4 daha az g\u00f6re, ilk yar\u0131s\u0131 2015-guo. Yakla\u015f\u0131k %40 yat\u0131r\u0131mc\u0131 yabanc\u0131lar.<\/p>\n<p><strong>Ofisleri<\/strong>. Ben \u00e7eyre\u011finde 2016 y\u0131l, ofisler i\u00e7in geldi neredeyse yar\u0131s\u0131 yat\u0131r\u0131m. \u015eehirlerde \u00abb\u00fcy\u00fck yedili\u00bb talep h\u0131zl\u0131 art\u0131yor teklifler, kiral\u0131k, pahal\u0131 ve verim azal\u0131r. Kaliteli ofisler getirmek i\u00e7in yakla\u015f\u0131k %4 \/ y\u0131l.<\/p>\n<p><strong>Ticari gayrimenkul<\/strong>. Ben \u00e7eyre\u011finde 2016 segmente yat\u0131r\u0131m oldu 20 % yat\u0131r\u0131m. Bahis verim prim nesneleri street-perakende e\u011filimi hisse senedi piyasalar\u0131. Ortalama olarak onlar getirmek y\u0131lda %3-4.<\/p>\n<p><strong>Depolar<\/strong>. Ben \u00e7eyre\u011finde 2016 depolar vard\u0131 10 % ekleri. Eksikli\u011fi nedeniyle kaliteli c\u00fcmleler ve g\u00fc\u00e7l\u00fc bir talep verim azal\u0131r (5-6 y\u0131ll\u0131k%).<\/p>\n<p><strong>Konut<\/strong>. 2011 ve 2015 y\u0131llar\u0131nda Almanya&#8217;da konut fiyatlar\u0131 artt\u0131 ortalama %55 oran\u0131nda M\u00fcnih \u2014 65 %, Berlin&#8217;de yakla\u015f\u0131k 2 kat. Uzun vadeli daire kiralama getiriyor ortalama yakla\u015f\u0131k %3.<\/p>\n<table>\n<tr>\n<th>Emlak tipi<\/th>\n<th>Kiralama,<br \/>euro\/m2<br \/>ay<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>kira, %<\/th>\n<th>Fiyatlar\u0131<br \/>euro\/m2<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>fiyatlar, %<\/th>\n<th>Verim,<br \/>%<\/th>\n<th>Tahmin<br \/>\u00fczerinde 2016-2017<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Berlin<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>17,8<\/td>\n<td>6,7<\/td>\n<td>5 340,0<\/td>\n<td>20,0<\/td>\n<td>4,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>244,0<\/td>\n<td>1,7<\/td>\n<td>77 052,6<\/td>\n<td>9,7<\/td>\n<td>3,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>92,0<\/td>\n<td>0,0<\/td>\n<td>25 976,5<\/td>\n<td>11,8<\/td>\n<td>4,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>5,8<\/td>\n<td>4,5<\/td>\n<td>1 200,0<\/td>\n<td>13,6<\/td>\n<td>5,8<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>10,3<\/td>\n<td>1,1<\/td>\n<td>3 651,1<\/td>\n<td>10,5<\/td>\n<td>3,4<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>M\u00fcnih<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>26,8<\/td>\n<td>0,0<\/td>\n<td>8 691,9<\/td>\n<td>4,1<\/td>\n<td>3,7<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>296,0<\/td>\n<td>0,0<\/td>\n<td>107 636,4<\/td>\n<td>6,1<\/td>\n<td>3,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>126,7<\/td>\n<td>0,0<\/td>\n<td>38 984,6<\/td>\n<td>9,0<\/td>\n<td>3,9<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>7,0<\/td>\n<td>7,7<\/td>\n<td>1 555,6<\/td>\n<td>19,7<\/td>\n<td>5,4<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>17,2<\/td>\n<td>2,2<\/td>\n<td>7 353,0<\/td>\n<td>8,9<\/td>\n<td>2,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"4\">\u0130spanya<\/h2>\n<p><strong>Yat\u0131r\u0131m<\/strong>. 2015 y\u0131l\u0131nda yat\u0131r\u0131m miktar\u0131n\u0131 ispanyol emlak doru\u011fa krizden sonra \u2014 13 milyar euro, %25 daha fazla g\u00f6re 2014 y\u0131l\u0131nda. Ancak ilk yar\u0131s\u0131nda 2016 segmente yat\u0131r\u0131m oldu 3,4 milyar euro, %20 daha az ayn\u0131 d\u00f6nemine g\u00f6re bir \u00f6nceki y\u0131l\u0131n. Bir miktar yabanc\u0131 yat\u0131r\u0131mc\u0131 artar: 2015 y\u0131l\u0131nda yabanc\u0131lar\u0131n pay\u0131 ticari gayrimenkul piyasas\u0131nda, y\u00fczde, yakla\u015f\u0131k %50&#8217;si ilk yar\u0131s\u0131nda 2016 \u2014 zaten 73 %.<\/p>\n<p><strong>Ofisleri<\/strong>. 2015 y\u0131l\u0131nda bu sekt\u00f6r zorunda kald\u0131 %43&#8217;\u00fc yat\u0131r\u0131m. Talep \u00fczerine kiral\u0131k Madrid ve Barcelona oldu en son 9 y\u0131lda. Ancak, piyasada hala y\u00fcksek bo\u015fluk oran\u0131 alan\u0131: Madrid bo\u015f 15,9 % ofisler, Barcelona \u2014 14 %, verim Madrid ve Barcelona 4,3 ve 4,5 %, s\u0131ras\u0131yla.<\/p>\n<p><strong>Ticari gayrimenkul<\/strong>. 2015 y\u0131l\u0131nda al\u0131\u015fveri\u015f merkezleri ve kompleksleri \u0130spanya girmi\u015ftir 2,65 milyar euro (rekor 10 y\u0131l). Verim sokak perakende yakla\u015f\u0131k %4&#8217;\u00fc, al\u0131\u015fveri\u015f merkezleri \u2014 5 %.<\/p>\n<p><strong>Depolar<\/strong>. Talep Madrid ve Barcelona a\u015f\u0131yor ve bir miktar bo\u015f nesnelerin h\u0131zla azal\u0131yor. Verim \u2014 %7 civar\u0131nda.<\/p>\n<p><strong>Konut<\/strong>. 2007 y\u0131l\u0131ndan bu yana, ne zaman bir ispanyol pazar\u0131nda zirveye ula\u015ft\u0131, kadar 2015 (d\u00f6nem alt krizden sonra) konut \u0130spanya&#8217;da daha ucuz %43. Potansiyeli en y\u00fcksek fiyat art\u0131\u015f\u0131 var, piyasalar, Barselona ve Madrid. Verim daireler \u2014 %5 civar\u0131nda.<\/p>\n<table>\n<tr>\n<th>Emlak tipi<\/th>\n<th>Kiralama,<br \/>euro\/m2<br \/>ay<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>kira, %<\/th>\n<th>Fiyatlar\u0131<br \/>euro\/m2<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>fiyatlar, %<\/th>\n<th>Verim,<br \/>%<\/th>\n<th>Tahmin<br \/>\u00fczerinde 2016-2017<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Madrid<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>16,7<\/td>\n<td>3,2<\/td>\n<td>4 705,9<\/td>\n<td>19,0<\/td>\n<td>4,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>204,0<\/td>\n<td>4,1<\/td>\n<td>65 280,0<\/td>\n<td>18,0<\/td>\n<td>3,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>35,3<\/td>\n<td>0,4<\/td>\n<td>8 479,2<\/td>\n<td>0,4<\/td>\n<td>5,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>4,9<\/td>\n<td>3,5<\/td>\n<td> 861,3<\/td>\n<td>5,8<\/td>\n<td>6,9<\/td>\n<td style=\"color:red;\">\u2193<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>11,8<\/td>\n<td>9,6<\/td>\n<td>2 751,0<\/td>\n<td>1,7<\/td>\n<td>5,1<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Barcelona<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>13,3<\/td>\n<td>13,9<\/td>\n<td>3 555,6<\/td>\n<td>31,6<\/td>\n<td>4,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>220,0<\/td>\n<td>1,9<\/td>\n<td>70 400,0<\/td>\n<td>15,5<\/td>\n<td>3,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>36,8<\/td>\n<td>0,0<\/td>\n<td>8 832,0<\/td>\n<td>0,0<\/td>\n<td>5,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>4,9<\/td>\n<td>3,5<\/td>\n<td> 861,3<\/td>\n<td>9,5<\/td>\n<td>6,9<\/td>\n<td style=\"color:red;\">\u2193<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>13,9<\/td>\n<td>17,6<\/td>\n<td>3 518,0<\/td>\n<td>5,4<\/td>\n<td>4,7<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"5\">AMER\u0130KA birle\u015fik devletleri<\/h2>\n<p><strong>Yat\u0131r\u0131m<\/strong>. G\u00f6re, JLL, 2009 ile 2015 y\u0131llar\u0131 yat\u0131r\u0131m, amerikan ticari gayrimenkul b\u00fcy\u00fcd\u00fc yakla\u015f\u0131k %20-25 y\u0131l. \u0130lk yar\u0131s\u0131nda 2016, bu kesimi yat\u0131r\u0131m oldu 108 milyar euro, %16 oranla daha az 2015 y\u0131l\u0131na kadar. Ticari emlak piyasas\u0131 AMER\u0130KA birle\u015fik devletleri kal\u0131r d\u00fcnyan\u0131n en b\u00fcy\u00fck.<\/p>\n<p><strong>Ofisleri<\/strong>. Bo\u015fluk oran\u0131 alan\u0131 azal\u0131r, kira pahal\u0131, verim azal\u0131r \u00e7o\u011fu (72 %) pazarlar. Oda getirmek ortalama olarak 4,4 %, y\u0131ll\u0131k.<\/p>\n<p><strong>Ticari gayrimenkul<\/strong>. Miami, New York ve San Francisco bo\u015f binan\u0131n %2-3, y\u00fcksek kaliteli teklifleri yeterli de\u011fil. Hisse bo\u015f binan\u0131n ilk yar\u0131s\u0131nda 2016 vard\u0131 artma e\u011filimindedir. Ortalama verim \u2014 %4,6 oran\u0131nda.<\/p>\n<p><strong>Depolar<\/strong>. Ankete g\u00f6re \u015firketler, PwC, depo \u2014 en umut verici bir kesimi ABD ticari gayrimenkul piyasas\u0131nda 2016 y\u0131l\u0131nda. Ana risklerinden birini burada a\u015f\u0131nma alanlar\u0131 gibi yar\u0131m gibi nesneleri Devletleri&#8217;nde in\u015fa edilmi\u015f, 1980&#8217;li y\u0131llarda veya daha \u00f6nce. Pay\u0131, bo\u015f mekan bu sekt\u00f6rdeki daralma, kira pahal\u0131, verim azal\u0131r. Depo ABD&#8217;DE getirmek ortalama y\u0131ll\u0131k %5.<\/p>\n<p><strong>Konut<\/strong>. Apartmanlar en g\u00fc\u00e7l\u00fc ve istikrarl\u0131 bir sekt\u00f6r ABD ticari gayrimenkul. 2015 y\u0131l\u0131nda bu t\u00fcr nesneler \u00e7ekti 30 % yat\u0131r\u0131m. \u0130tibariyle 2016 y\u0131l\u0131, fiyatlar\u0131, ABD&#8217;DE ba\u015fka bir 5 % daha d\u00fc\u015f\u00fck tepe, 2007, Miami \u2014 22 %. Tek ba\u015f\u0131na duruyor, New York, konut maliyeti %13 daha pahal\u0131 ile ilgili olarak 2007 y\u0131l\u0131nda. Ortalama getiri emlak konut AMER\u0130KA birle\u015fik devletleri \u2014 4,4 %.<\/p>\n<table>\n<tr>\n<th>Emlak tipi<\/th>\n<th>Kiralama,<br \/>euro\/m2<br \/>ay<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>kira, %<\/th>\n<th>Fiyatlar\u0131<br \/>euro\/m2<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>fiyatlar, %<\/th>\n<th>Verim,<br \/>%<\/th>\n<th>Tahmin<br \/>\u00fczerinde 2016-2017<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>New York<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>50,2<\/td>\n<td>5,6<\/td>\n<td>14 178,8<\/td>\n<td>11,8<\/td>\n<td>4,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>450,0<\/td>\n<td>4,7<\/td>\n<td>154 285,7<\/td>\n<td>12,2<\/td>\n<td>3,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>51,0<\/td>\n<td>5,4<\/td>\n<td>10 633,0<\/td>\n<td>10,0<\/td>\n<td>5,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>4,8<\/td>\n<td>6,4<\/td>\n<td>1 049,8<\/td>\n<td>13,6<\/td>\n<td>5,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>40,9<\/td>\n<td>3,9<\/td>\n<td>14 009,2<\/td>\n<td>7,0<\/td>\n<td>3,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Miami<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>13,0<\/td>\n<td>7,0<\/td>\n<td>3 473,3<\/td>\n<td>18,9<\/td>\n<td>4,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>200,0<\/td>\n<td>1,8<\/td>\n<td>61 935,5<\/td>\n<td>18,2<\/td>\n<td>3,9<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>68,2<\/td>\n<td>4,4<\/td>\n<td>14 237,2<\/td>\n<td>8,9<\/td>\n<td>5,8<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>6,2<\/td>\n<td>0,4<\/td>\n<td>1 273,9<\/td>\n<td>4,7<\/td>\n<td>5,9<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>16,1<\/td>\n<td>7,2<\/td>\n<td>2 907,0<\/td>\n<td>5,7<\/td>\n<td>4,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"6\">Fransa<\/h2>\n<p><strong>Yat\u0131r\u0131m<\/strong>. Yat\u0131r\u0131m, ticari gayrimenkul, Fransa&#8217;n\u0131n 2015 y\u0131l\u0131nda ula\u015ft\u0131, sekiz y\u00fcksek 26 milyar euro. \u0130lk yar\u0131s\u0131nda 2016 nesneleri i\u00e7in burada yat\u0131r\u0131m oldu 9,1 milyar euro olarak 16 % daha fazla, ayn\u0131 d\u00f6nemde 2015. Yat\u0131r\u0131m b\u00fcy\u00fcme olmas\u0131 nedeniyle hapsedilen \u00fc\u00e7 i\u015flem maliyeti 500 milyon euro. Yakla\u015f\u0131k \u00fc\u00e7te yat\u0131r\u0131mc\u0131lar frans\u0131z pazar\u0131nda, yabanc\u0131lar.<\/p>\n<p><strong>Ofisleri<\/strong>. Kaliteli c\u00fcmleler eksik, arz talep a\u015f\u0131yor, oranlar\u0131 karl\u0131l\u0131k e\u011filimi hisse senedi piyasalar\u0131. Ofisler premium segmentte getirmek ortalama olarak 3,25 %, y\u0131ll\u0131k.<\/p>\n<p><strong>Ticari gayrimenkul<\/strong>. Fransa&#8217;da in\u015fa edilmi\u015f k\u00fc\u00e7\u00fck bir al\u0131\u015fveri\u015f ve yeni bir teklif olu\u015fturulur kaynaklanmaktad\u0131r geli\u015fme. Oranlar\u0131 karl\u0131l\u0131k gibi tarihsel olarak d\u00fc\u015f\u00fck seviyelerde (yakla\u015f\u0131k %3 i\u00e7in nesne street-perakende Paris).<\/p>\n<p><strong>Depolar<\/strong>. Yat\u0131r\u0131m bu sekt\u00f6r k\u00fc\u00e7\u00fck ve toplam\u0131n sadece %3 toplam yat\u0131r\u0131m. Arz talep a\u015f\u0131yor, oranlar\u0131 karl\u0131l\u0131k e\u011filimi hisse senedi piyasalar\u0131. Depo getirmek i\u00e7in yakla\u015f\u0131k ortalama y\u0131ll\u0131k %6.<\/p>\n<p><strong>Konut<\/strong>. Frans\u0131zca konut piyasas\u0131 nispeten sakin limanlar kriz d\u00f6nemlerinde. Y\u0131ll\u0131k fiyat dinamikleri aral\u0131\u011f\u0131 -2 ila +2 %. Ben \u00e7eyre\u011finde 2016 fiyatlar\u0131n %8 a\u015fa\u011f\u0131da kar\u015f\u0131 pico III \u00e7eyre\u011finde, 2011. Verim konut \u2014 yakla\u015f\u0131k %3-4.<\/p>\n<table>\n<tr>\n<th>Emlak tipi<\/th>\n<th>Kiralama,<br \/>euro\/m2<br \/>ay<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>kira, %<\/th>\n<th>Fiyatlar\u0131<br \/>euro\/m2<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>fiyatlar, %<\/th>\n<th>Verim,<br \/>%<\/th>\n<th>Tahmin<br \/>\u00fczerinde 2016-2017<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Paris<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>52,7<\/td>\n<td>0,4<\/td>\n<td>16 853,3<\/td>\n<td>10,4<\/td>\n<td>3,8<\/td>\n<td style=\"color:red;\">\u2193<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>885,0<\/td>\n<td>0,0<\/td>\n<td>354 000,0<\/td>\n<td>16,7<\/td>\n<td>3,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>166,7<\/td>\n<td>0,0<\/td>\n<td>50 001,0<\/td>\n<td>12,5<\/td>\n<td>4,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>4,6<\/td>\n<td>1,9<\/td>\n<td> 947,6<\/td>\n<td>18,6<\/td>\n<td>5,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>26,2<\/td>\n<td>-0,8<\/td>\n<td>8 543,5<\/td>\n<td>0,9<\/td>\n<td>3,7<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Lyon<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>18,0<\/td>\n<td>0,0<\/td>\n<td>4 500,0<\/td>\n<td>14,6<\/td>\n<td>4,8<\/td>\n<td style=\"color:red;\">\u2193<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>175,0<\/td>\n<td>4,3<\/td>\n<td>52 500,0<\/td>\n<td>17,3<\/td>\n<td>4,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>126,0<\/td>\n<td>15,4<\/td>\n<td>43 200,0<\/td>\n<td>23,6<\/td>\n<td>3,5<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>3,9<\/td>\n<td>0,0<\/td>\n<td> 784,0<\/td>\n<td>12,5<\/td>\n<td>6,0<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>11,7<\/td>\n<td>-2,3<\/td>\n<td>3 052,2<\/td>\n<td>0,4<\/td>\n<td>4,6<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"7\">\u00c7ek cumhuriyeti<\/h2>\n<p><strong>Yat\u0131r\u0131m<\/strong>. \u0130lk yar\u0131s\u0131nda 2016&#8217;da ticari gayrimenkul yat\u0131r\u0131m Yap\u0131ld\u0131 azalarak 29 %956 milyon euro. Ancak, s\u0131n\u0131flar ve alt segment ara\u00e7lar %39 ortalaman\u0131n son 10 y\u0131lda.<\/p>\n<p><strong>Ofisleri<\/strong>. Arz talep a\u015f\u0131yor, oranlar\u0131 karl\u0131l\u0131k e\u011filimi hisse senedi piyasalar\u0131. Prag en \u00e7ok talep \u00abA\u00bb s\u0131n\u0131f\u0131 ofisleri. Bo\u015f 14,6 % mekan. Ortalama verim oran\u0131, premium segment \u2014 5,5 %.<\/p>\n<p><strong>Ticari gayrimenkul<\/strong>. Nas\u0131l ve ofis piyasas\u0131nda, sekt\u00f6r\u00fcnde ticari gayrimenkul talebi de a\u015f\u0131yor ve oranlar\u0131 karl\u0131l\u0131k e\u011filimi hisse senedi piyasalar\u0131. Ortalama verim nesne street-perakende premium segmentte \u2014 5,25 %.<\/p>\n<p><strong>Depolar<\/strong>. Bo\u015f alan azald\u0131 ila be\u015f y\u0131l\u0131n en d\u00fc\u015f\u00fck (%5) ve y\u00fcksek talep, yak\u0131t, spek\u00fclatif in\u015faat. Ortalama verim, y\u00fcksek kaliteli depo \u2014 6,5 %.<\/p>\n<p><strong>Konut<\/strong>. Daire fiyatlar\u0131 \u00c7ek cumhuriyeti alt ula\u015ft\u0131, 2013 y\u0131l\u0131nda ve o zamandan beri y\u00fckseliyor. 2015 y\u0131l\u0131nda artt\u0131 4,5 %. Yakla\u015f\u0131k %40&#8217;\u0131 sat\u0131lan 2015 y\u0131l\u0131nda Prag&#8217;da konut \u2014 bu tek yatak odal\u0131 daireler. Konut, \u00e7ek ba\u015fkenti getiriyor ortalama olarak 3,7 %, y\u0131ll\u0131k.<\/p>\n<table>\n<tr>\n<th>Emlak tipi<\/th>\n<th>Kiralama,<br \/>euro\/m2<br \/>ay<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>kira, %<\/th>\n<th>Fiyatlar\u0131<br \/>euro\/m2<\/th>\n<th>Y\u0131ll\u0131k<br \/>hoparl\u00f6r<br \/>fiyatlar, %<\/th>\n<th>Verim,<br \/>%<\/th>\n<th>Tahmin<br \/>\u00fczerinde 2016-2017<\/th>\n<\/tr>\n<tbody>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Prag<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>15,2<\/td>\n<td>2,6<\/td>\n<td>3 172,2<\/td>\n<td>11,5<\/td>\n<td>5,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>160,0<\/td>\n<td>8,1<\/td>\n<td>45 176,5<\/td>\n<td>20,8<\/td>\n<td>4,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>56,0<\/td>\n<td>0,0<\/td>\n<td>12 800,0<\/td>\n<td>9,5<\/td>\n<td>5,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>4,0<\/td>\n<td>4,3<\/td>\n<td> 711,1<\/td>\n<td>8,2<\/td>\n<td>6,8<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>9,2<\/td>\n<td>17,1<\/td>\n<td>3 027,0<\/td>\n<td>4,5<\/td>\n<td>3,7<\/td>\n<td style=\"color:red;\">\u2193<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center; background: #eee;\"><strong>Brno<\/strong><\/td>\n<\/tr>\n<tr>\n<th>Ofisler<\/th>\n<td>10,7<\/td>\n<td>8,3<\/td>\n<td>1 551,5<\/td>\n<td>14,9<\/td>\n<td>8,3<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Sokak perakende<\/th>\n<td>70,0<\/td>\n<td>0,0<\/td>\n<td>10 838,7<\/td>\n<td>3,2<\/td>\n<td>7,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Al\u0131\u015fveri\u015f merkezleri<\/th>\n<td>45,0<\/td>\n<td>2,6<\/td>\n<td>6 967,7<\/td>\n<td>9,2<\/td>\n<td>7,8<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<tr>\n<th>Depolar<\/th>\n<td>4,1<\/td>\n<td>0,0<\/td>\n<td> 607,5<\/td>\n<td>3,1<\/td>\n<td>8,0<\/td>\n<td>&#x2194;<\/td>\n<\/tr>\n<tr>\n<th>Daire (uzun s\u00fcreli kiralama)<\/th>\n<td>6,7<\/td>\n<td>10,8<\/td>\n<td>1 807,0<\/td>\n<td>4,5<\/td>\n<td>4,4<\/td>\n<td style=\"color:red;\">\u2193<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u2022<\/p>\n<p>Tahminlerine g\u00f6re, Cushman &amp; Wakefield, 2016 y\u0131l\u0131nda toplam yat\u0131r\u0131m, ticari gayrimenkul, AB (hari\u00e7 \u0130ngiltere pazar\u0131) 10 % daha y\u00fcksektir 2015-km, \u0130ngiltere&#8217;de %25 a\u015fa\u011f\u0131da. Faaliyet d\u00fc\u015f\u00fc\u015f yat\u0131r\u0131mc\u0131lar\u0131 Birle\u015fik Krall\u0131k&#8217;ta ile ili\u015fkili olabilir \u00ab\u0411\u0440\u0435\u043a\u0437\u0438\u0442\u043e\u043c\u00bb. Tahminlerine g\u00f6re, JLL, toplam yat\u0131r\u0131m ABD pazar\u0131nda 2016 y\u0131l\u0131nda azalarak %10-15 y\u0131ll\u0131k bazda. Ana nedeni \u2014 eksikli\u011fi ilgin\u00e7 teklifler ve makroekonomik belirsizlik.<\/p>\n<p>Bahis verim geli\u015fmi\u015f pazarlarda son y\u0131llarda bir e\u011filim vard\u0131 hisse senedi piyasalar\u0131 y\u00fcksek talep nedeniyle gayrimenkul premium segment ve b\u00fcy\u00fcyen fiyatlar\u0131. Uzmanlar bekliyoruz, bu e\u011filim devam edecek ve 2016-2017 y\u0131llar\u0131nda. Kira ve fiyatlar\u0131 nesneleri de artacak. Tahminlerine g\u00f6re, Standard &amp; poor&#8217;s, emlak artacakt\u0131r \u0130ngiltere&#8217;de bile olsa \u00ab\u0411\u0440\u0435\u043a\u0437\u0438\u0442\u00bb: 2016&#8217;da b\u00fcy\u00fcme %5 ve 2017-km fiyat inecek, yakla\u015f\u0131k 2 %.<\/p>\n<table class=\"left\" style=\"max-width: 90%;\">\n<tr>\n<th>\u00a0<\/th>\n<th style=\"width: 27%;\">AMER\u0130KA birle\u015fik devletleri<\/th>\n<th style=\"width: 27%;\">Birle\u015fik krall\u0131k<\/th>\n<th style=\"width: 27%;\">AB<\/th>\n<\/tr>\n<tbody>\n<tr>\n<th><strong>Y\u0131ll\u0131k hoparl\u00f6r yat\u0131r\u0131m, %<\/strong><\/th>\n<td>\u221210\u201315<\/td>\n<td>-25<\/td>\n<td>+10<\/td>\n<\/tr>\n<tr>\n<th><strong>Verim<\/strong><\/th>\n<td>D\u00fc\u015fecek ya da ayn\u0131 d\u00fczeyde devam edecek<\/td>\n<td>D\u00fc\u015fecek premium segmentte art\u0131\u015f ortalama fiyat segmentinde<\/td>\n<td>D\u00fc\u015fecek premium segmentte, artar veya devam ederse ayn\u0131 seviyede ortalama fiyat segmentinde<\/td>\n<\/tr>\n<tr>\n<th><strong>Kira<\/strong><\/th>\n<td>Artacak<\/td>\n<td>Kal\u0131c\u0131 ve durgun premium segmentte<\/td>\n<td>\u0130nat durgun veya artacak<\/td>\n<\/tr>\n<tr>\n<th><strong>Talep kirac\u0131<\/strong><\/th>\n<td>Devam ederse ayn\u0131 seviyede ya da artacak<\/td>\n<td>Devam ederse ayn\u0131 seviyede ya da d\u00fc\u015fecek<\/td>\n<td>Devam ederse ayn\u0131 seviyede ya da artacak<\/td>\n<\/tr>\n<tr>\n<th><strong>Emlak fiyatlar\u0131<\/strong><\/th>\n<td style=\"color:green;\">\u2191<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<td style=\"color:green;\">\u2191<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Julia \u041a\u043e\u0436\u0435\u0432\u043d\u0438\u043a\u043e\u0432\u0430, Tranio<\/p>\n","protected":false},"excerpt":{"rendered":"<p>G\u00f6re, JLL, ilk yar\u0131s\u0131nda 2016 y\u0131l\u0131nda k\u00fcresel ticari gayrimenkul yat\u0131r\u0131m oldu yakla\u015f\u0131k 260 milyar euro, %10 daha az, daha 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