sábado, 30 de julho de 2011

Reaching Beyond The Gold - The Impact of the Olympic Games on Real Estate Markets

Todo mundo concorda q o "fator olímpico" não é o preponderante no boom imobiliário carioca. Mas não custa dar uma olha no que ocorreu em outras cidades sedes.
Reaching Beyond The Gold - The Impact of the Olympic Games on Real Estate Markets
Este paper é bem antigo (2001), antes de Atenas:


Algumas passagens interessantes:

"This paper examines these legacies for four recent Olympics hosts - Seoul  (1988), Barcelona (1992), Atlanta (1996) and Sydney (2000) - and anticipates potential impacts for Athens (2004)."

"The hosting of the Olympics (and other major world events) has a significant and varied impact on the
real estate market, but these impacts are largely indirect and are experienced over a long timeframe.
More direct, short-term impacts, are largely focused on the hotel and tourism sector. Real estate impacts tend
to be a consequence of decisions driven by other motivations, such as image and self-promotion, which provide indirect benefits to the sector."

"The motivation for hosting the Olympics clearly varies between cities. More established cities (eg Atlanta,
Sydney or Paris) are less concerned with geo-political considerations than less developed cities (Seoul,
Barcelona or Beijing"

"The direct real estate implications of hosting major events depend upon the size and relative maturity of the
local property market. These impacts appear greater on smaller and less mature market"

"As might be expected, the greatest consistency lies within the hotel industry, with all four host cities
approaching the peak of their market cycle in their respective Olympic years. Hotel markets have tended to
slip over the crest relatively quickly following the Games, reflecting a softening of performance as a result of the artificial peak created in the Olympic year. However, the markets tend to recover quickly, creating a strong growth position for the years following the Games in which general market cycle influences prevail."

"In the residential market, while Seoul and Barcelona experienced rapid increases in housing prices and
rentals in their respective Olympic years, Atlanta and Sydney experienced little or no Olympic related boost.
The true “Olympic-effect” on the residential sector is not in prices, but in the development of new districts within the Olympic precinct"

"Of the four recent host cities, the impact on the residential market was most pronounced in Barcelona, where the Olympics is cited as a major contributor to increases in residential values of between 250% and 300% over the period 1986 – 1993."


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