Europe Commercial Property Focus Is there any value left in German real estate? Even with prime commercial property yields in Germany plumbing new lows, investment activity is still strong. But with tighter monetary policy on the horizon, property yields are at threat from rising... 11th December 2017 · 1 min read
Europe Commercial Property Focus Do smaller, second cities now offer better value? With some of the tightest office markets, core European cities are set to see the best rates of rental growth over the 2018-21 period. However, with lower current yields and a weaker outlook for... 1st December 2017 · 1 min read
Europe Commercial Property Focus Have Paris retail rents reached a plateau? Stagnant rental values in the prime Paris retail sector over the past couple of years have seen the view that rental values have reached a ceiling gain momentum. But we believe that the factors which... 20th February 2017 · 1 min read
Europe Commercial Property Focus Have property pricing dynamics changed? Over the last eight years, the exceptionally loose monetary policy environment in Europe appears to have driven a change in the dynamics of the relationship between prime office yields, risk-free... 10th February 2017 · 1 min read
Europe Commercial Property Focus Which euro-zone cities and sectors boast the strongest prospects? We expect economic growth in the euro-zone to stay weak, prompting interest rates to stay low and supporting valuations of prime property assets. In this environment, property yields can continue... 28th November 2016 · 1 min read
Europe Commercial Property Focus German office rental growth is set to pick up strongly Office rental values in Berlin, Hamburg and Munich now stand, on average, 7% above their prior 2008 peaks, and at their highest levels in 15 years. Even so, the positive economic outlook, low... 17th March 2016 · 1 min read
Europe Commercial Property Focus How much scope is there for European office rents to rise? In recent years, across Europe, yield compression has been by far the largest driver of capital value growth. Yet property yields are fast approaching their limit. That means we now need to see a pick... 29th February 2016 · 1 min read
Europe Commercial Property Focus Is property in Lisbon overvalued? Lisbon has been highlighted as one of Europe’s top cities for investment prospects this year. Yet property yields are already at record lows. And as Portugal’s weak economic fundamentals limit the... 22nd January 2016 · 1 min read
Europe Commercial Property Focus Has investment activity in Central Europe plateaued? Investment activity appears to have plateaued in Central Europe. But if one includes ‘platform deals’, the picture is more positive. That said , there are factors holding volumes back, including a mis... 22nd October 2015 · 1 min read
Europe Commercial Property Focus Will Munich’s office rental premium over Hamburg continue to grow? Since early 2012, the rental premium commanded by prime office space in Munich over that in Hamburg has grown by almost a third. However, in the next few years both demand and supply fundamentals... 14th October 2015 · 1 min read
Europe Commercial Property Focus Which markets offer the best relative value to investors? With government and corporate bond yields at all-time lows in most of Europe and equity dividend yields close to their long-term averages, European commercial property looks relatively well-priced... 8th October 2015 · 30 mins read
Europe Commercial Property Focus Where is the potential for office rental value growth strongest? An analysis of current office rental values relative to estimates of their equilibrium levels suggests that Madrid, Barcelona, the main German cities and Brussels offer the best medium-term growth... 19th August 2015 · 1 min read
Europe Commercial Property Focus Rising Nordic investment signals shift towards secondary property Investment flows have been rising in the Nordics, reflecting both large single-asset deals and, increasingly, a number of major portfolio transactions. The growing willingness to transact secondary... 25th June 2015 · 1 min read
Europe Commercial Property Focus Paris offices: Gearing up for rental growth Although French employment growth is forecast to remain lethargic, the limited development pipeline and occupiers’ preference for modern, centrally-located space will drive an improvement in the... 26th February 2015 · 1 min read
Europe Commercial Property Focus ECB on hold: will commercial property in the periphery outperform? A weak economic outlook for the euro-zone means that we do not expect particularly strong rental growth in the coming years. But, with interest rates on hold and bond yields expected to stay low... 27th November 2014 · 1 min read
Europe Commercial Property Focus How much upside is there for Spanish office rents? Despite dropping by 40% since 2008, we are not convinced that prime rental values in the main Spanish office markets are now obviously too low. While we do envisage a recovery over the next few years... 3rd June 2014 · 1 min read
