Europe Commercial Property Focus Remote working to hit office income by 20-25% 6th August 2020 · 25 mins read
Global Economics Focus Lasting blow to supply capacity is not inevitable It is by no means inevitable that the coronavirus crisis puts a big permanent hole in the supply capacity of economies (i.e. their ability to produce goods and services). With the right government... 29th June 2020 · 28 mins read
Europe Commercial Property Focus Which retail markets are most exposed to COVID-19? Before the virus outbreak, falls in prime retail rents were expected to be concentrated in Northern European markets. Now rental falls are likely to spread throughout Southern and Central Eastern... 14th May 2020 · 12 mins read
Europe Commercial Property Focus Does European property still offer attractive returns? Set against other asset classes, European commercial property looks fairly valued. Our returns forecasts for 2020-23 of around 5% p.a. on an MSCI all-property basis will look relatively attractive in... 9th December 2019 · 12 mins read
Europe Commercial Property Focus Will the global real estate boom end in tears again? After a sustained upturn in commercial property, yields are well below their historic lows and there are concerns that the current cycle could end as badly as previous ones. But we don’t think a crash... 2nd December 2019 · 13 mins read
Europe Commercial Property Focus Expect no change in euro-zone office yields until 2022 The slowdown in euro-zone growth means that rental growth will be weaker and that bond yields are likely to be lower. The net effect of these factors is a downward revision to our forecasts for office... 22nd February 2019 · 1 min read
Europe Commercial Property Focus Can London office and retail outperform the rest of Europe? London office and retail property are set to produce only middling performance in the next few years, when compared to Western Europe’s other major markets. We think London’s large development... 12th December 2018 · 1 min read
Europe Commercial Property Focus Will rental growth justify the fall in industrial yields? With all of the hype around the potential impact of online retailing on industrial occupier demand, there has been a big shift in the relative pricing of industrial assets. Although rents in the UK... 7th December 2018 · 1 min read
Global Economics Focus Where are the risks from property greatest? In this follow-up to our recent Global Economics Focus “Why is property so often the source of trouble?” we assess where in the world the biggest risks to property prices lie. House price falls in a... 8th August 2018 · 1 min read
Global Economics Focus Why is property so often the source of trouble? It is now ten years since the property-induced global financial crisis and house prices in many countries are rising rapidly again. So now seems like a good time to assess whether property... 2nd August 2018 · 1 min read
Europe Commercial Property Focus Where will office rents rise fastest? A solid employment growth outlook, combined with relatively small development pipelines will enable a weighted average of Western European office rents to climb by around 8% p.a. in the 2018-20 period... 12th June 2018 · 1 min read
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
