Global Real Estate Now November 2005 Volume 10 Number 3 Insights, observations and research from PricewaterhouseCoopers international real estate accounting, tax and business advisory services professionals.

FEATURE ARTICLES 2 The rise of CMBS in Europe 9 Property derivatives in the United Kingdom EYE ON ASIA 15 India - the door is now open to real estate investors 23 China - strong and sustained economic growth is attracting foreign investment to the China real estate market EYE ON THE AMERICAS 31 Mexico - excellent opportunities for real estate investors EYE ON EUROPE 39 European overview - economy and real estate 51 Russia - Moving from looking to investing TECH CORNER 57 Budgeting, forecasting and planning: process and technology trends in the real estate industry