Europe Commercial Property Update US to outperform in 2022 before rate rises curb returns The rapid bounce-back in the US economy along with still-loose monetary policy will drive continued strong performance in real estate in 2022, when we expect returns to exceed 12%. That would see the... 15th December 2021 · 3 mins read
Europe Commercial Property Update CEE yield compression to continue into 2022 After surprising on the upside this year, we think that the broad-based decline in Central and Eastern European (CEE) property yields will continue in 2022, albeit at a more modest pace. But with... 30th November 2021 · 3 mins read
Europe Commercial Property Update Consensus still underestimating impact of remote work The IPF Consensus forecasts for euro-zone prime office rental growth in 2021 have been revised up, consistent with the more positive recent data. However, expectations were revised down slightly for... 15th November 2021 · 3 mins read
Europe Commercial Property Update Dutch industrial rental growth catching up with EZ A healthy occupier backdrop and a shortage of supply should allow prime industrial rents in the Netherlands to continue to grow at a steady pace over the coming years. As a result, after years of... 11th November 2021 · 3 mins read
Europe Commercial Property Update German retail vacancy to remain elevated The latest data show that conditions in the German retail sector are improving. Nevertheless, we think vacancy will be slow to reverse as pandemic shifts lead to weakness in in-store demand... 8th November 2021 · 3 mins read
Europe Commercial Property Update Cautiously optimistic on Moscow office rents While the latest virus outbreak has clouded the near-term outlook, a tight supply picture and steady employment growth mean that prime Moscow office rents should return to growth in 2022. 4th November 2021 · 3 mins read
Europe Commercial Property Update Investment to peak later next year The Q3 investment data indicate that activity could be slightly stronger this year than we had expected. However, with the economic recovery topping out and structural headwinds limiting investment in... 28th October 2021 · 3 mins read
Europe Commercial Property Update Risk of stronger French industrial rental growth ahead We expect steady French industrial rental growth over the next few years on the back of a solid economic backdrop and more online shopping. That said, if construction costs and land constraints become... 25th October 2021 · 3 mins read
Europe Commercial Property Update Warsaw retail rents to recover but not surge After a fall this year, we expect Warsaw retail rents to return to growth in 2022. That said, the city’s reliance on office workers means that the shift to remote working will weigh on retail spending... 21st October 2021 · 3 mins read
Europe Commercial Property Update Near-term upgrades to German office rental growth Prime office rental growth in Germany is on track to be stronger than forecast in the near term. However, we think rental growth will slow in the coming years as the supply of modern space is expected... 20th October 2021 · 3 mins read
Europe Commercial Property Update Why are prime industrial rental values not taking off? Despite strong demand, we think that high capital values have kept development profitable and have prevented an acceleration in euro-zone prime industrial rental value growth. However, as capital... 15th October 2021 · 3 mins read
Europe Commercial Property Update Wider market confirms recovery in prime data The latest MSCI data show that the wider market has moved roughly in line with our prime data since the onset of the pandemic and provide support to our outlook for property values. 14th October 2021 · 3 mins read
Europe Commercial Property Update CEE investment recovery to pick up from 2022 We think a greater reliance on foreign capital and tighter monetary conditions will leave CEE investment activity lagging the euro-zone in H2. Overall, transactions are set to end the year 5% lower... 8th October 2021 · 2 mins read
Europe Commercial Property Update Did Europeans leave cities (and have they returned)? The pandemic and widespread use of remote working appeared to entice some Europeans to leave cities last year. However, the recent improvement in city mobility adds evidence to our view that this... 7th October 2021 · 3 mins read
Europe Commercial Property Update Oslo property returns have peaked Rising government bond yields are set to squeeze valuations, resulting in increases in Oslo all-property yields after 2022. This will weigh on returns for Oslo property in the coming years, with... 30th September 2021 · 3 mins read
Global Economics Update Is the rise in house prices becoming a concern? It is an under-statement to say that house prices have weathered the pandemic well; housing markets are positively booming. Yet the drivers of this rise in prices are rather different to those of the... 28th September 2021 · 5 mins read
