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Summary
Welcome to edition 21 of the Boom Bust Bulletin. I’m sure you are seeing a large amount of confusion, contradiction and misleading stories in the world of financial media now. It seems to me than it’s time to go back to basics. And research one of the most reliable and, thus far, dependable metric to determine the peak of the real estate cycle. It’s been called variously the “Cantillon Ef…
Key Claims
- 5 © Property Share Market Economics So, if there are only three mega-tall buildings in existence, when were they completed? Source – SOM Currently the world’s tallest building, at 828 metres, is the Burj Khalifa in Dubai. First proposed in 2003, its construction began in 2004 and was completed in 2010. Total floor area is approx. 309,000 square meters. — confidence: medium
- 6 © Property Share Market Economics Source – Gensler The second tallest building in located in Shanghai. This is Shanghai Tower. Proposed in 2008, commenced construction in 2009 and completed in 2015. It has approx. 380,000 square meters of total floor space. — confidence: medium
- 15 © Property Share Market Economics Source – Kettle Collective Lastly in Dubai, Uptown Dubai Tower is half a dozen buildings of which tower 2 will be the tallest commercial tower in existence at 340 meters once completed (see below) while tower 1 will be approx. 700 meters tall. Tower 1 however has yet to start construction. Source – Khaleej Times — confidence: medium
Notable Quotes
“INSIDE • The Cantillon Effect • Talls, Super-talls and Mega-talls • Look up to see the future • Always opened in recession, never fully occupied Remember, you can always contact me via my email address darren@ propertysharemarketeconomics.com with your questions, queries, and feedback.”
“His work pre-dates Adam Smith and was just as important, if not more so.”
“This is why the Skyscraper Index is such an important indicator for us.”
“It has always been the PSE team’s contention that each 18.6-year Real Estate Cycle is bigger than the one proceeding it.”