Europe Commercial Property Focus How good is the long-run outlook for Turkish property returns? Strong economic growth in Turkey over the next 10 to 15 years should support an above average decline in commercial property yields, as well as reasonably strong rental value growth. Our central view... 26th May 2011 · 1 min read
Europe Commercial Property Focus Investment case for the Italian retail market remains weak Italy’s historic position as one of the euro-zone’s most expensive retail markets might suggest that the recent stability of Italian retail yields, while yields in other euro-zone markets have fallen... 8th February 2011 · 1 min read
Europe Commercial Property Focus Brussels offices: a safe bet in uncertain times? The experience of the early 2000s was that the Brussels office market prospered in a weak macroeconomic environment. With the euro-zone economy now facing another protracted period of subtrend... 14th October 2010 · 1 min read
Europe Commercial Property Focus How much further will Russian property yields fall? Compared to US Government bonds and Russian equities, as well as property markets in other countries, Russian property still appears to be attractively priced. As such, investment demand looks set to... 1st October 2010 · 1 min read
Europe Commercial Property Focus How far do Emerging European headline rents respond to FX swings? Our analysis of the recent recession confirms that the volatility of headline retail rents in Emerging Europe can be exacerbated by swings in the exchange rate. Indeed, we estimate that each 1% fall... 3rd August 2010 · 1 min read
Europe Commercial Property Focus Polish retail property market outlook Over the next few years we think that the Polish retail market will outperform most retail markets in both Emerging Europe and the euro-zone. Indeed, the sanguine outlook for retail occupier demand... 23rd April 2010 · 1 min read
Europe Commercial Property Focus Where will European industrial rental values fare best? Over the next two years, we think that the three European countries with the strongest outlook for industrial rental value growth are Poland, France and Switzerland. By contrast, taking into account... 6th April 2010 · 1 min read
Europe Commercial Property Focus Will German office rental values lag behind during the recovery? German office rental value growth lagged behind other major markets between 2004 and 2008, but we do not expect a repeat performance over the next few years. We think that the fundamental supports for... 8th March 2010 · 1 min read
Europe Commercial Property Focus Is European commercial property fairly valued? We think that the UK, French and Polish markets seem undervalued by about 10% to 20%, while the Belgian and German markets look to be around fair value. The Finnish, Hungarian, Italian, Spanish and... 13th January 2010 · 1 min read
Europe Commercial Property Focus Euro-zone economic and property risk In the current uncertain environment, any upturn in commercial property investment flows is likely to centre on Europe’s largest, most transparent markets. Yet investors will also be looking for... 16th July 2009 · 1 min read
Europe Commercial Property Focus Retail rents: the euro-zone will outperform emerging Europe Our forecasts envisage that, in general, rental values in the euro-zone will hold up better through the recession in retail than in industrial markets. But the same will not be true in emerging Europe... 7th May 2009 · 1 min read
Europe Commercial Property Focus The outlook for office markets in European financial centres Of the four main financial hubs of Europe, we think it is Paris that will deliver the best total returns for offices. An annual average of around minus 10% over the next two years will be better than... 15th April 2009 · 1 min read
Europe Commercial Property Focus The correction will be deepest in emerging Europe We have cut our commercial property forecasts to reflect the increasingly gloomy outlook for noneuro- zone European economies. Capital values are likely to fall by 40% from peak to trough in most non... 8th April 2009 · 1 min read
Europe Commercial Property Focus Euro-zone capital values to fall by at least a third We have cut our euro-zone commercial property forecasts. We now expect capital values in most markets to fall by between 30% and 40% from their peak, with the bulk of those falls being seen by the end... 31st March 2009 · 1 min read
Europe Commercial Property Focus Forecasting European Commercial Property - Our Approach For clients of our new European Commercial Property service, this note provides a guide to our philosophy and forecast methodology. In short, our approach to analysing and forecasting commercial... 26th November 2008 · 1 min read
