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REUTERS/Aly Song/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - M&G Real Estate (MNG.L) forecasts it is "a matter of time" before global property markets face greater volumes of forced selling, with banks increasingly reluctant to refinance troubled or lower quality assets at current interest rates. "We are in a new period of real estate investment that will require a new mindset," he told Reuters before the publication of the firm's Global Real Estate Outlook on Tuesday. Nearly 40% of outstanding British commercial real estate loans are due to mature in 2024 and 2025, where average real estate values have fallen by over 20% since mid-2022, the report said, citing data from Bayes Business School. "Real estate debt is becoming an increasingly attractive investment proposition," Pellicer said. U.S. office-based working is at only 50% of pre-pandemic levels, the report cited real estate services firm JLL (JLL.N) as estimating, while numbers in Europe have recovered to 75%.

Persons: Aly, Jose Pellicer, Pellicer, G, Carolyn Cohn, Sinead Cruise, Alexander Smith Organizations: REUTERS, G, Reuters, Bayes Business, Thomson Locations: Shanghai, China, Germany, Sweden, Europe, United States, Asia

[1/2] British Chancellor of the Exchequer Jeremy Hunt holds a Ministerial Statement at the House of Commons in London, Britain, June 26, 2023. The government rocked pension savers last September with a fiscal statement that drove government bond yields higher and forced pension schemes to scramble for cash, triggering a parliamentary inquiry into their investments. The government is under pressure to revitalise domestic investor interest in several industries considered key to Britain's growth, including fintech, biotech, life science and clean technology. Encouraging greater investment in growth assets will help younger savers but the reforms offer little hope to those retiring in the near term. Inflation continues to ravage Britain's economy, with rates running higher than in any other major rich country.

Persons: Jeremy Hunt, Jessica Taylor, Handout, Richard Gnodde, Becky O’Connor, Jon Hatchett, Hymans Robertson, Andrew Bailey, Hunt, Anna Anthony, Sinead Cruise, Carolyn Cohn, Nick Macfie Organizations: REUTERS, Aviva, Goldman Sachs, Public Affairs, Bank of England, Financial, Thomson Locations: London, Britain, City, PensionBee, Britain's

"The mortgage crisis is going to be bigger than energy now," said Richard Murphy, professor of accounting practice at Sheffield University, warning of a drop in house prices that could leave many with debt greater than the value of their home. This comes on top of a cost of living crisis driven by rising food and energy prices which is already biting many hard. CALL FOR CALMBeyond the immediate squeeze this will have on consumers' ability to spend, rising borrowing costs also have the potential to send the years-long house market rally into reverse: HSBC analysts predict house price falls of 7.5% into next year. Some top mortgage lenders are calling for calm, stressing they are still signing mortgage deals and that the pullback in lending among smaller rivals is in no way indicative of a broader, exodus of lenders from the mortgage market. Chris Huddleston, chief executive of international brokerage company FXD Capital, said he expected the mortgage market to remain in limbo in coming weeks as investors watch currency markets and how the Bank of England reacts.

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