Europe Commercial Property Update High rents and softer economy weigh on Spanish retail Despite Spain’s relatively strong economic outlook compared to its European peers, with real prime rents at high levels and the economy losing momentum, we think that prime retail rents will fall in... 13th January 2020 · 3 mins read
Europe Commercial Property Update Key predictions for European property in 2020 With interest rates set to stay lower for longer, we think that property yields will decline further in 2020. The exception is retail where, outside of Emerging Europe, yields are expected to rise in... 8th January 2020 · 3 mins read
Europe Commercial Property Update How did our predictions for 2019 stack up? While we could have been bolder with our forecast for rental growth in Europe, in particular Nordic offices, on the whole our forecasts for 2019 proved to be correct. 7th January 2020 · 3 mins read
Europe Commercial Property Update Paltry office rental growth in Turkey Despite a weaker lira, Istanbul prime office rents have, perhaps surprisingly, held up in the last two years. We expect them to hold steady over the next two years, but beyond 2021, we forecast... 23rd December 2019 · 2 mins read
Europe Commercial Property Update What do equities suggest about euro-zone property? Although the anaemic performance of the euro-zone economy is expected to weigh on occupier demand, real estate equity markets suggest that confidence in property markets has held up. We think that... 18th December 2019 · 2 mins read
Europe Commercial Property Update 2021 to mark last year of falls in CEE property yields We think that while yield compression across CEE markets has further to go in the next two years, property yields will rise beyond 2021 as tighter monetary policy in the region feeds through. 29th November 2019 · 3 mins read
Europe Commercial Property Update Still some upside for German prime industrial rents While the manufacturing downturn has not helped the industrial sector in Germany at a national level, growing e-commerce means that prime industrial rents will still muster some growth over the next... 22nd November 2019 · 3 mins read
Europe Commercial Property Update Still value in shopping for logistics in the Netherlands The Dutch retail sector is grappling with changing consumer habits and will struggle to provide a positive return to investors. But, with online sales set to grow rapidly and supply chains still... 11th November 2019 · 3 mins read
Europe Commercial Property Update Gloomy outlook for German retail rents Although occupier demand appears to be holding up in Germany, a combination of structural and cyclical factors has weighed on retail rents. And with meagre economic growth expected until at least the... 6th November 2019 · 3 mins read
Europe Commercial Property Update Nordic offices to outperform despite lower withdrawals Office-to-residential conversions in the Nordic capitals have started to lose their appeal given the pick-up in office capital values and softening in house prices. However, we don’t think that this... 1st November 2019 · 3 mins read
Europe Commercial Property Update No upside for Dublin retail rents While the risk of a no deal Brexit has diminished, lingering uncertainty and structural headwinds are likely to put downward pressure on prime retail rents in Dublin over the next two years. 29th October 2019 · 3 mins read
Europe Commercial Property Update Paris office yields to fall another 20bps by end-2020 As valuations have improved this year and investors have become willing to accept lower yields, demand for quality Paris assets has ballooned, most likely driving a record year for French investment... 23rd October 2019 · 3 mins read
Europe Commercial Property Update Lift-off for Athens prime retail? We expect the upturn in consumer confidence in Greece this year to feed through to a pick-up in retail sales growth, supporting retailer demand in Athens. Coupled with further yield falls, Athens high... 18th October 2019 · 3 mins read
Europe Commercial Property Update Budapest retail and industrial to top the CEE tables The outperformance of Budapest’s office sector is coming to a close, but we still expect the retail and industrial sectors to beat their CEE peers in terms of total returns. 17th October 2019 · 3 mins read
Europe Commercial Property Update Long-term income streams top the bill in Sweden Demand for Swedish property has been on a tear this year, even as the economy has faltered. This likely reflects investor expectations that growth will be supported by even looser monetary policy over... 11th October 2019 · 3 mins read
Europe Commercial Property Update Limited upward movement in Paris prime retail rents While Paris prime retail rents rose in 2018, we doubt this marks the start of a prolonged upward trend. With tourist flows set to stagnate due to a weak global economy, rents will not rise by much... 9th October 2019 · 3 mins read
