JLL CEO on Mamdani's potential impact on NY real estate: Demand unlikely to fundamentally change

Core Viewpoint - JLL's shares declined despite beating earnings estimates, attributed to a deceleration in real estate management services fees [1] Industry Outlook - The overall landscape for the real estate industry is positive, with transaction volumes in leasing and capital markets expected to continue growing [2] - There is significant overseas interest in the US real estate market, which has increased due to Europe's lack of expected restructuring and reforms [4] Market Specifics - New York's real estate market remains strong, with high international interest, unaffected by the new mayor's policies [5][6] - The office leasing market is currently at 86% of pre-COVID levels, marking the best market since 2019, with a notable increase in office attendance among Fortune 100 companies [11][12] Demand Trends - There is a strong ongoing demand for multifamily housing globally, particularly in the US, which is attracting international interest [15] - The revival of the office market in cities like San Francisco is driven by AI companies expanding their space [14]