New market study available at Fast Market Research: "Peru Real Estate Report Q2 2010"

April 7, 2010 - PRLog -- Lessons learnt from past mistakes have put Latin America in a far stronger position to deal with the current global crisis than previously. The fact that no Latin American banking sector has faced a systemic failure in 2008-2009 is testament to that progress. Regional authorities have implemented a number of measures to reduce risk in recent years, not least by reducing their reliance on external financing, strengthening capital defences and boosting regulatory robustness. Latin America's commercial bank loan portfolio is adequately covered by a stable and growing domestic depositor base. The region's loan-todeposit ratio falls within the 1.10 mark, which suggests that collective lending is primarily financed by local deposits. However, we anticipate a significant deterioration in the quality of commercial bank loan books, with non-performing loan ratios expected to head higher. CB Richard Ellis reported in its Americas MarketView for Q109 that, for the most part, Latin America is still experiencing low vacancy rates and has benefited from stable local demand for real estate. CBRE expects vacancy rates to creep up slowly, but for there to be no 'implosion'. Office demand remains weak, while industrial and retail availability rates have increased marginally. Retailers are adjusting to weaker consumption by delaying new openings and strategic downsizing. In Peru there appear to be a number of significant projects under way in 2009 and beyond. The Central Reserve Bank of Peru's Inflation Report of March 2009 noted: 'Dubai Ports World Callao will invest US$250mn in the construction of the South Pier this year, as a result of which it will have the capacity to mobilise 450,000 20ft containers by July 2010. Red de Energía del Perú will continue with the construction of the Machu Picchu-Cotaruse and Chilca-Zapallal transmission lines, with an investment of US$200mn in 2009. In the commerce sector, Malls Perú will build two commercial centres - one in Lima and another one in Piura - with a total investment of US$120mn. These projects should be completed by end 2009.' The report nominates Peru's electricity supply as one of the risks of development, saying that supply is close to its capacity limit, and that adverse climatic events could have significant impact. Bearing in mind the factors that contribute to Peru's Real Estate/Construction Business Environment Rating (RECBER), we suggest that the following are the key issues to monitor for the real estate sector:  Growing international interest in the Peruvian real estate market as the political environment stabilises. Continued strong growth in construction activity underpinned by a healthy level of public expenditure. A strong outlook for the housing sector as employment and inflation levels remain under control and consumer confidence grows within a relatively strong economy.  

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Partial Table of Contents:

Executive Summary
-- Key Features Of This Report
-- SWOT Analysis
-- Peru Real Estate/Construction SWOT
-- Peru Economic SWOT
-- Peru Business Environment SWOT
-- Real Estate Market Overview
-- Construction Overview
Table: Peru - Major Infrastructure Projects
-- Real Estate Investment Trusts
Table: REIT Returns - FTSE EPRA/NAREIT Global Real Estate Index And Components, 2007-Q110 (% change)
-- Industry Forecast Scenario
-- Latin American Real Estate Outlook
Table: Housing Prices At A Glance
Table: Office Rents In Latin America - CBRE
Table: Current And Forecast Office Rents, 2008-2014 (US$ per square metre per month)
-- Peru's Real Estate Outlook
-- Peru's Construction Industry Outlook
Table: Construction Industry, 2007-2014
-- Peru's Monetary Policy
Table: Peru - Monetary Policy, 2006-2014
-- Peru's Macroeconomic Outlook
Table: Peru - Economic Activity, 2005-2014
-- Real Estate/Construction Business Environment Rating
-- Real Estate/Construction Business Environment Ratings
Table: Latin America Business Environment Ratings
-- Peru's RECBER
-- Project Finance Ratings
Table: Design And Construction Rating
Table: Commissioning And Operating Rating
Table: Overall Project Finance Rating
-- Peru's Business Environment
Table: BMI Business And Operational Risk Ratings
Table: BMI Legal Framework Ratings
Table: Labour Force Quality
Table: Annual FDI Inflows Into Latin America, 2006 And 2007
Table: BMI Trade Ratings
Table: Peru's Top Export Destinations, 2001-2007 (US$mn)
-- Company Monitor
-- Abengoa
-- Cemento Andino SA
-- Cementos Lima
-- Cementos Pacasmayo
-- Centros Comerciales del Peru (CCPSA)
-- Cosapi
-- Graña y Montero (GyM)
-- Inversiones Centenario
-- Los Portales SA
-- Negocios e Inmuebles SA
-- BMI Forecast Modelling
-- How We Generate Our Industry Forecasts
-- Construction Industry
-- Bank Lending
-- Real Estate/Construction Business Environment Rating
Table: Weighting Of Indicators
-- Project Finance Ratings Indicators
Table: Design And Construction Phase
Table: Commissioning And Operating Phase - Commercial Construction
Table: Commissioning And Operating Phase - Energy And Utilities

Full Table of Contents is available at:
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