US Commercial Property Update Why even the worst-hit cities look likely to recover The pandemic-driven reduction in office-based footfall in city centres has weighed heavily on many urban environments, particularly in the US. But if cities can find ways to align incentives with... 22nd April 2025 · 8 mins read
Europe Commercial Property Update Is German retail making a comeback? German retail performance has been among the worst in the euro-zone for most of the last decade. A combination of declining vacancy, better affordability and reduced online leakage point to a relative... 16th April 2025 · 4 mins read
Europe Commercial Property Update Trump tariffs to drag on German industrial leasing Trump’s tariffs have darkened the outlook for industrial demand across Europe, but Germany looks more exposed than most. Even if the paused 20% reciprocal tariff on EU imports is not reinstated, the... 10th April 2025 · 4 mins read
UK Commercial Property Update Answering key client questions from our roundtables on how the pandemic continues to shape real estate Last week we held a series of roundtable discussions with clients in our London office about how the pandemic will shape real estate into the 2030s. This note shares our answers to some of the most... 8th April 2025 · 4 mins read
Global Economics Update Answering your questions about Liberation Day tariffs We hosted two online Drop-In sessions on 3rd April to discuss the fallout from President Trump’s Liberation Day tariff announcement. (See a recording here.) This Update contains answers to some of the... 3rd April 2025 · 9 mins read
UK Housing Market Update Did the pandemic change where households are choosing to live? The pandemic triggered an exodus from large cities in both the UK and US as households used the freedom of remote work to move to cheaper locations with larger homes. In the rental market, that trend... 3rd April 2025 · 6 mins read
US Commercial Property Update Retail subsectors to see more consistent performance Physical retail demand has not only been shaped by online shopping, but also by shifting working patterns which have redistributed where we spend our money since COVID-19. Nevertheless, we expect a... 26th March 2025 · 6 mins read
UK Commercial Property Update Remote work is here to stay in UK, US and EU Despite numerous reports of firms rowing back on remote work, the evidence in the UK, US and the EU suggests that the share of jobs being done remotely has remained constant over the past couple of... 20th March 2025 · 5 mins read
Europe Commercial Property Update Fiscal spending shift worsens the German property outlook Events of the past week or so have worsened the outlook for German commercial property. While more government spending could marginally boost rents, the higher outlook for interest rates will outweigh... 12th March 2025 · 4 mins read
US Commercial Property Update The biggest cities will continue to underperform Five years ago, we were downbeat about the immediate prospects for the largest city real estate markets, the so-called gateways, and that view has proved correct. But we also argued that this malaise... 5th March 2025 · 5 mins read
Global Economics Update Is the US bloc splintering? The events of the past two weeks have called into question whether the US is severing ties not just with adversaries such as China but also allies, including Canada, Mexico and the European Union... 4th March 2025 · 6 mins read
Europe Commercial Property Update Industrial’s pandemic-era boom over; steady demand ahead Industrial property has been a clear winner over the past five years, with double-digit annual rental growth far outpacing expectations. However, as we predicted early on, supply has been responsive... 25th February 2025 · 5 mins read
Europe Commercial Property Update How much longer can global hotels outperform? Hotels have seen a considerable turnaround in the past five years given the near-existential threat that the pandemic posed to the sector. Having bottomed last year, we expect values will grow in the... 20th February 2025 · 7 mins read
UK Commercial Property Update Retail is back, but online will remain a drag into the 2030s Five years ago, the retail sector was staring at the abyss, as lockdowns and virus-related restrictions worsened what was already a crisis in demand. The turnaround since has been dramatic. But while... 12th February 2025 · 5 mins read
Europe Commercial Property Update Euro-zone CRE investment outlook still gloomy After a strong Q4, a shaky start to 2025 has highlighted the fragility of the recovery in euro-zone commercial real estate investment. We still expect transaction volumes to rise over the remainder of... 11th February 2025 · 5 mins read
Europe Commercial Property Update Risk of CRE debt distress greater in the EZ than the UK A stabilisation in capital values and decline in interest rates have sparked optimism that we may be past the worst of the real estate debt refinancing challenge. That indeed looks to be the case in... 6th February 2025 · 7 mins read
