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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.
The war in Iran might as well be over for investors as positive sentiment, strong corporate earnings and the AI boom lift Asian markets.
Hong Kong is just one of several markets across the Asia-Pacific seeing rapid growth in investment by private wealth.
The wrong kind of inflation and the effects of the war in Iran complicate the outlook for Japanese interest rates.
While the recovery in Hong Kong’s real estate market has its weaknesses, the underpinnings of the latest upturn look more solid.
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While India’s economy is stronger than it was in previous sell-offs, lingering weaknesses are coming to the fore and driving new tensions.
The city state’s problems pale beside those in other Asia-Pacific markets facing supply shortages that drive up prices and rents.
While there is reason for optimism, the ceasefire in Iran remains tenuous and the return of inflation is not the kind China wants to see.
Asia’s unique energy markets, power sourcing strategies and vast digital infrastructure requirements underpin the sector’s resilience.
Central banks cannot pump oil into the global economy in the same way they can flood the financial system with liquidity.
While the country’s economy and currency are struggling, Japan’s property fundamentals remain strong.
Markets might be convinced Trump will chicken out again, but that won’t reassure Asian nations scrambling to deal with energy shortages.
While monetary tightening would add to affordability pressures, it would have little bearing on the forces driving up prices and rents.
As the conflict threatens Asian economies, the best protected are those that can leverage import diversification and energy independence.
While higher energy prices pose a threat to global travel, Asia’s strong regional travel demand and diversified source markets offer resilience.
The danger from the Iran war cannot be assessed in isolation. Rather, it is one of several major vulnerabilities that could trigger a much sharper sell-off.
Asian property’s sources of resilience are potent and multifaceted, with the drivers of sentiment distinct from those in financial markets.
Investors have grown used to brushing off geopolitical threats, but turmoil in the Middle East poses a greater risk to the global economy.
Several factors contribute to the outperformance of the Australian retail sector, including its relative insulation from digital disruption.
Markets assuming Trump will chicken out and downplaying risks contribute to the normalisation of the US president’s chaotic behaviour.
Tech disruption is unlikely to spoil India’s commercial real estate party. If anything, the world’s hottest office market is too hot.
Beijing will seize on the crisis to promote the yuan, but without capital account liberalisation – essential for a truly global currency – its rise will remain limited.
While Japan is unlikely to have its own Liz Truss moment, high debt levels and an empowered populist in charge are still reasons for concern.
The narrow pool of high-quality assets benefits landlords and affluent investors but poses a challenge to prospective buyers and renters.
The global uncertainty stemming from Trump’s behaviour is roiling precious metals markets far more than any investment from Asia.
Unlike the commercial property sector, the city’s residential market is supported by multiple factors helping to drive demand.
As recognised by Canada, the fracturing of the global economy is in full swing. Policymakers and businesses should expect it to continue.
Thailand’s resilience in the face of an eventful 2025, India’s uneven boom in branded hotel supply and Japan’s record visitor numbers amid a row with China are deserving of attention.
Despite being equipped with powerful tools in its economic arsenal, Brussels lacks the leverage needed to keep Washington in check.
Markets, especially bond markets, are meant to be a disciplining force. Their inaction will only embolden Trump to act more recklessly.
