Europe Commercial Property Outlook Structural factors to hold back office and retail recovery Although the near-term economic outlook remains weak, vaccine developments pave the way for a rebound in mid-2021. However, we think that the rental recovery in property markets will be more gradual... 10th December 2020 · 31 mins read
Europe Commercial Property Outlook Slower recovery in values given weaker office outlook As widely expected, Q2 brought a range of disappointing data, from plunging investment volumes to further falls in retail rents. And while property values outside of retail have generally held up so... 18th September 2020 · 33 mins read
Europe Commercial Property Outlook Property values will fall sharply, but won’t reach GFC lows Thin deal evidence and market uncertainty has meant that the disruption from the virus has been slow to feed through to property values. However, significant falls in economic activity in H1 and... 19th June 2020 · 32 mins read
Europe Commercial Property Outlook COVID-19 to hit property values by at least 8% in 2020 The ever-changing economic effects of COVID-19 mean that the impact on real estate markets is highly uncertain. It is clear that the sharp contraction in economic activity and deterioration in... 20th March 2020 · 25 mins read
Europe Commercial Property Outlook Lower yields to support capital values We expect a further slowdown in euro-zone economic growth in 2020 to weigh on rental growth. However, with interest rates set to be cut next year and remain at this low level, there isn’t likely to be... 5th December 2019 · 30 mins read
Europe Commercial Property Outlook Further falls in yields to sustain capital value growth With the euro-zone slowdown underway, we think that the ECB will loosen monetary policy before the year is out, meaning bond yields are set to remain negative for some time. As a result, yield... 11th September 2019 · 30 mins read
Europe Commercial Property Outlook Total returns set to be sharply lower With the ECB likely to loosen monetary policy before too long, government bond yields look set to stay at very low levels for some time. As a result, we think that yield compression has a little... 18th June 2019 · 1 min read
Europe Commercial Property Outlook Capital value outlook boosted by lower risk-free rates With the euro-zone economy set for a period of weak growth, the outlook for rental growth across the sectors is poor. While this would normally lessen the case for yields to fall further, with risk... 29th March 2019 · 1 min read
Europe Commercial Property Outlook Property yields on hold in 2019 The euro-zone economy has weakened sharply in 2018. With growth unlikely to regain lost momentum, not only has the outlook for occupier markets deteriorated, but the possibility of the ECB delaying... 20th December 2018 · 1 min read
Europe Commercial Property Outlook Yield compression all but done The pace of economic growth in the euro-zone economy appears to have peaked in this cycle. At the same time, commercial property markets look to be plateauing as investment volumes track sideways and... 7th September 2018 · 1 min read
Europe Commercial Property Outlook At the tipping point The economic backdrop continues to be supportive of occupier markets, in spite of the euro-zone’s weaker-than-expected start to the year. But with the growth expected to slow, investment volumes... 8th June 2018 · 1 min read
Europe Commercial Property Outlook Rental growth has peaked The upswing in euro-zone economic growth will underpin occupier demand. However, rising development will act as a headwind for rental growth. Indeed, in the office, retail and industrial sectors, we... 20th March 2018 · 1 min read
Europe Commercial Property Outlook Period of strong capital value growth nearing an end Against a backdrop of solid economic growth, the outlook for occupier demand and rental growth is encouraging. But with prime property yields close to finding a floor, and tighter monetary policy on... 15th December 2017 · 1 min read
Europe Commercial Property Outlook ECB draws nearer to turning off the stimulus tap European occupier markets have continued to benefit from the strengthening economic environment. Low risk-free rates still provide some limited scope for prime yields to fall. But as government bond... 11th September 2017 · 1 min read
Europe Commercial Property Outlook Euro-zone property cycle a step closer to turning Prime euro-zone property yields still have scope to fall over the next 18 months. However, with a stronger outlook for the euro-zone economy, we have increased our forecasts for government bond yields... 2nd June 2017 · 1 min read
Europe Commercial Property Outlook Rental growth to start driving relative market performance We see euro-zone GDP growth slowing this year due to the drag from higher inflation and political uncertainty. With no monetary policy tightening on the horizon, further falls in prime yields will... 27th February 2017 · 1 min read
