Research & Reports

Investment Strategy
Annual 2021

The ISA, LaSalle’s flagship research report, is a global overview of real estate investment strategy for the years to come. This annual report compiles views from around the world on macro real estate investment themes, local market forecasts, recommended investment strategies, and key market risks. It provides insight on portfolio construction and the trends shaping real estate investment and the increasing value of the capacity for advanced data analytics to guide real estate investment decisions.

  • 27
    Years of Investment Strategy Annual Publications
  • 2021-2023
    Years covered in forecast
  • 16
    Countries analyzed and researched in this edition

ISA 2021 OVERVIEW

In the 27th edition of the Investment Strategy Annual, we address the themes that will shape the real estate investment environment for the next three years and likely longer. Some assets and strategies amplify these trends and will deliver “high beta”, others are much more insulated from all the noise and should be considered “low beta”.

Mastering the simultaneous need for fast/intuitive and slow/careful thinking becomes an important skill to develop in the speeding-up world of real estate. We review techniques to help investors determine portfolio objectives. We present our outlook for the property types and countries that are the most attractive. We share our best investment ideas.

The Future of Office
The Future of Retail
The Future of Logistics
The Rise of Residential
in Europe, United states and Asia Pacific

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The Case for Real Estate in 2021

LaSalle has made many contributions to the evolution of real estate’s accepted status as an asset class and the case for real estate in a portfolio.

2020 has been a harrowing year. The first half of 2021 is also likely to be very challenging. Real estate owners and operators will continue to be on the front lines coping with the pandemic and its aftermath. Fortunately, the immediate impairment to property income streams is much less severe than initially feared. Unfortunately, the public health ramifications for vulnerable populations and healthcare workers is much worse than predicted in some of the largest countries in the West. Currently, the successful containment of COVID-19 in the largest Asia Pacific countries has not been replicated in either Europe or the Americas.

LaSalle 2021–23 Real Estate Universe

Defining the Real Estate Universe

PUBLIC REAL ESTATE
The gross asset value of real estate owned by REITs and REOCs listed on public exchanges. Includes vertically integrated development companies in emerging markets but not exclusive homebuilders.

INSTITUTIONAL-INVESTED REAL ESTATE
The unleveraged total value of all professionally managed real estate portfolios, both public and private.

TOTAL INCOME-PRODUCING REAL ESTATE
Total commercial (office, retail, industrial, alternatives) and rented residential buildings. Owner-occupied residential homes are not included.