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EPRA Monthly Brief
July 2019
Earlier this month, the European Council adopted the new Pan European Personal Pension (PEPP) regulation. This legislation could see the size of personal pension investment in the equities market double according to a study commissioned by EY for the European Commission. EPRA, who has been working closely with the European institutions to recognise the benefits of a prudential approach that looks to channelling more savings to long-term investments, notably in public shares, and encouraging diversified portfolios, has welcomed this move. You can read more about this development in the section below.

As we are nearing September I remind you that it is still possible to register for the EPRA Conference (10-12 September, Madrid). I look forward to catching up with many of you there and hope that you will enjoy the high-level programme that we have prepared for you. As always, the access to the third day of the event is free for investors.

On a final note, I would like to welcome our newest members: Kojamo, Master MDI UPM, SBB, Snow Park Capital Partners and Triple Point Social Housing REIT.


Dominique Moerenhout, EPRA CEO
EPRA news

PEPP regulation unlocks vast investment potential in listed real estate sector

The new Pan European Personal Pension (PEPP) regulations are set to unlock vast investment potential in the listed real estate sector, with total EUR 231 billion set to flood the European equities market, according to a study undertaken by EY. The adoption of the regulation, which states that ‘PEPP providers are encouraged to allocate a sufficient part of their asset portfolio to sustainable investments in the real economy with long-term economic benefits’ will see pension providers able to invest in shares of publicly traded companies, including REITs and listed real estate. Investments in listed property companies are a great example of long-term investments that have the potential to help Europe overcome its pension challenge and to help people achieve their retirement goals. EPRA has been actively advocating throughout the legislative process in order to provide beneficial context for the listed sector. Read more: European Commission’s PEPP factsheet & EPRA’s view on PEPP.
 

Listed real estate and politics

Germany and the UK remain the two most influential European listed real estate markets in value terms in the second quarter of 2019, despite experiencing specific political conditions that have negatively impacted investor sentiment that hurt the value of the wider European market. Germany’s residential market took a hit mainly due to the discussions around rent control laws, whereas renewed uncertainty in the UK has caused additional pressure that led to the market trading at a significant discount. Ali Zaidi, EPRA’s Research & Indexes Director, discusses the FTSE EPRA Nareit Developed Index data for Q2 2019 in Estates Gazette and IPE. More information can be found in the EPRA Total Markets Table Q2 2019 report, a quarterly publication which presents an estimated value of the commercial real estate covering four main regions, as well as allows the comparison of CRE, LRE and the FTSE EPRA Nareit Index coverage at regional and country levels.

The Urban, a podcast that explores urban lifestyles and the city of the future

As people increasingly flock to cities for economic and cultural opportunities, keeping urban environments functioning presents ever more complex challenges. ‘The client’ is now more present in workplace design. Massive tech innovations are affecting real estate. Mobility poses challenges in and around major conurbations. Urban densification is making cities less inclusive. Then there’s the climate emergency. Through four podcasts, Gecina’s ‘The Urban’ invites experts from a range of disciplines to discuss the issues and explore solutions for building a sustainable urban future. Available on all podcast platforms: Apple Podcasts, Majelan, Podcast Addict, Google Podcasts, Spotify, Deezer, Soundcloud and at theurban.gecina.fr.
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