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This year’s New Years debate will be organised jointly by Young ING Real Estate and FRESH Alumni. Four high profile speakers will give their view on the credit crunch and its effects on real estate values.

The debate will be held in a very prominent location: ING House in Amsterdam!



Introduction
The most influential event on the real estate market in 2007 was the ‘credit crunch’. The sub prime mortgage crisis in the US housing market has had and continues to have significant effects on other markets. The ensuing ‘credit crunch’ has made it very difficult for banks to obtain money for their (property) financing activities. As a result, it has become more difficult for investors and developers to borrow the high levels of financing that are necessary for their operations and acquisitions.

Since the start of the credit crunch, the number of sales has decreased significantly. In the more transparent and liquid UK market and in listed property securities, real estate values have already started to come down and the question on everyone’s minds is: “How much further will they fall?” In Continental European direct real estate markets, we have seen no evidence of declining property values, even though the listed market has already priced them in.

The focus of the debates is the effects of the credit crunch on property values in 2008. Are property values going to fall? If yes, what effect will this have on large acquisitions? Will financial institutions be able to finance them, and up to what price? Will developers still be able to build, finance and sell their properties?

Speakers
The upcoming debate aims to highlight the different views and the impact on strategy from three real estate perspectives: investment, development and finance.

Four high profile experts from these different backgrounds will give their view. The debate will be chaired by:
- Tim Bellman, Global Head of Research & Strategy, ING Real Estate Investment Management

The participants in the panel will be: 
-  Matthijs Storm: Vice President, ING Clarion Real Estate Securities London 
- Jasper Klapwijk: Board Member ING Real Estate Development, Strategy 
- Michiel Rang: Board Member ING Real Estate Finance, International

Each will shortly summarise his view on the credit crunch and its consequences for real estate valuations from their respective positions. This will be followed by a panel debate, which will be extended to the young real estate professionals in the audience.

The program will be as follows: 
- 16:00 – 16:30 Reception 
- 16:30 – 16:45 Welcome 
- 16:45 – 17:00 Introduction presentation by Tim Bellman 
- 17:00 – 17:45 Panel debate on the effects of the credit crunch in 2008 
- 17:45 – 18:15 Discussion with the audience 
- 18:15 – 20:00 Drinks

Location
The debate will be held at ING House, which is the global headquarters of ING Group. The Auditorium has been reserved for the New Year’s Debate, as it offers an exclusive look into this futuristic and innovative building!



Subscription
For this activity it is necessary to subscribe, since the places are limited. You can subscribe by sending an email to activities@stayfresh.org, and filling in your name, company, function and contact details.

Summary
When : Friday February 22
Time : 16:00 – 20:00
Location : ING House, Amstelveenseweg 500, Amsterdam