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Nicholas Spiro
Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.
Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.
A bear market for the US dollar is overdue but that doesn’t mean the dominant reserve currency should – or could – be replaced any time soon.
Although no property market is fully shielded from the trade shock, Asia’s real estate sector has strong and diverse sources of resilience.
The erosion of governance standards in the US shows advanced markets have more consequential political risks than many emerging economies.
Trump’s reckless policies have caused a surge in risk, but the US property market will continue to capitalise on its unique strengths.
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Trump’s erratic policymaking is a risk typically associated with economically vulnerable autocracies in the developing world.
While China might be fertile ground for experienced investors, Japan and India have more of the stability and fundamentals markets demand.
Trump’s sudden reversal on some tariffs shows the stability of the global economy is at the mercy of one reckless, unreliable president.
Trump’s tariffs will inevitably dampen sentiment towards Asian real estate, but domestic demand will act as a shock absorber.
Much has to go right for Chinese stocks to continue to outperform, but there is great potential if investor sentiment continues to thaw.
Concern about democratic backsliding and poor liquidity are obscuring otherwise solid fundamentals in one of Asia’s largest markets.
The institutional and legal underpinnings of the US system on which investors have long relied are under sustained assault from the Trump administration.
With clear benefits for stakeholders, the region’s branded residences are poised to boost liquidity and set high transparency standards.
Just because the US is no longer the darling of markets does not mean the likes of Europe or China are safe bets.
While a shortage of investible assets and less attractive returns pose challenges, commercial property in Asia has come far in recent years.
While the tide has not fully turned in Europe and China’s favour, Trump’s recklessness is providing impetus for badly needed policy shifts.
Fierce demand for digital infrastructure and Japan’s stability will remain highly attractive to investors looking towards Asia.
Higher inflation, a sharp slowdown or both point to a much bleaker outlook for the US than markets anticipated when Trump won the election.
While the overall market has yet to bottom out and policies are needed to boost confidence, secondary market resilience offers some hope.
As US stagflation fears undermine market confidence, Germany’s election outcome and China’s DeepSeek moment are shifting global expectations.
While the AI start-up’s success has prompted a reassessment of China’s stocks, policy support and stronger growth are needed to fix imbalances in the sector.
Eager to boost domestic demand and more able to preserve financial stability, the region’s policymakers are embracing greater monetary independence.
While financial distress is apparent, the risks must be put into context. The city’s woes are more externally driven than home-grown.
Trump’s tariffs will endanger US growth while providing Chinese authorities a chance to make a badly needed pivot towards consumption.
The region epitomises a vital source of resilience in Asian real estate: the strong role of domestic and regional demand.
Many investors continue to downplay or rationalise the damage Trump’s trade policy does, but there are signs the honeymoon might soon end.
Hong Kong’s property market is vulnerable to concerns about a hawkish Fed and mainland China’s recovery. Not so for Singapore’s domestically oriented market.
A global stock market this dependent on a few huge companies in a sector whose valuations are under high scrutiny is a recipe for volatility.
Even safe havens such as Japan, Australia and Singapore are under scrutiny as a more challenging global economic landscape emerges.
Tensions within Trump’s economic policies could lead to some being scrapped, but they could also be a further source of chaos.
