GLOBAL REAL ESTATE SECTOR. ASPECTS REGARDING INVESTORS AWARENESS

The largest market is represented by the USA, with 42 per cent capitalization, followed by Europe and Asia. From the five forces of Porter, two – entrance barriers and competition - are considered to be strong, the rest being perceived as moderate. Factors that differentiate real estate from other sectors are: high competition, high dependency on macro-economical factors, more shares and bonds issued than in other companies, high degree of financial leverage, consistent cash flow. The shares of real estate companies are defensive and have an efficient distribution of dividends.