Europe Commercial Property Update Investment slowing, but no need to panic yet Commercial property investment activity looks likely to drop back slightly from the highs seen last year. But, rather than pointing to a downturn in pricing, we believe that this reflects investors re... 1st August 2019 · 3 mins read
Europe Commercial Property Update Improved outlook for Lisbon offices We have upgraded our forecasts for Portugal’s economy and now expect growth to be above trend in 2019 and 2020. Along with a halving in the size of the Lisbon office development pipeline in the next... 29th July 2019 · 3 mins read
Europe Commercial Property Update Brussels no longer flavour of the season Since last July, the development pipeline in Brussels has grown and prospects for economic growth and thus, occupier demand have nudged lower. While the low availability of Grade A stock will support... 22nd July 2019 · 3 mins read
Europe Commercial Property Update Thinner yield spreads not yet a risk to Italian markets With bond yields falling, euro-zone property yield spreads have widened and remain high by historical standards. Admittedly, not all markets enjoy low bond yields, but even in Italy, where spreads... 18th July 2019 · 3 mins read
Europe Commercial Property Update Upside risk to our Prague industrial rent forecasts The Czech economy has slowed over the past 18 months, which, alongside strong new development, has kept industrial rents in check. But, with signs of renewed vigour in occupier demand and rents... 16th July 2019 · 3 mins read
Europe Commercial Property Update Consensus catching up, but still below our Scandi view IPF Consensus office rent forecasts for 2019 were generally upgraded in their latest iteration, with central Europe seeing a particularly large rise. We also made widespread upgrades to our forecasts... 10th July 2019 · 3 mins read
Europe Commercial Property Update Will property yields be lower for longer? With euro-zone bond yields falling, this creates the potential for a further compression of property yields. In our view, there will not be much of an immediate impact, though it is becoming more... 5th July 2019 · 3 mins read
Europe Commercial Property Update Vacancy set to stabilise at cyclical lows in Paris Paris office take-up is likely to drop back a little this year, but with economic growth staying steady, it’s unlikely to fall off a cliff. A fairly restricted supply outlook means that vacancy can... 4th July 2019 · 3 mins read
Europe Commercial Property Update Czeching in on Prague prime pricing Prague prime high street yields ticked up in Q1 on the back of stretched pricing. Yet, given that bond yields have fallen and the next move for interest rates is expected to be downwards, we think... 25th June 2019 · 3 mins read
Europe Commercial Property Update Shopping centre yield spread over high streets to rise Concerns about rental growth prospects appear to be behind rising prime shopping centre yields. While we anticipate high street yields to rise also, a smaller correction will see the yield spread... 5th June 2019 · 1 min read
Europe Commercial Property Update Rise in Moscow office yields to be short-lived With Russian government bond yields expected to continue falling this year, we think that the rise in Moscow office yields in Q1 will prove temporary and that they will end the year at 9%, down from 9... 30th May 2019 · 1 min read
Europe Commercial Property Update After a stable 2018, Berlin office yields can fall again Prime office yields in Berlin have been stable over the past 18 months, in spite of strong rental growth expectations. With tighter monetary policy now some way off, and yields on assets with a... 17th May 2019 · 1 min read
Europe Commercial Property Update Have Warsaw office rents really turned a corner? Warsaw office demand is likely to slow over the next two years, while completions of new space will increase. But, we still expect to see an overall rise in prime CBD rents in the next few years. 14th May 2019 · 1 min read
Europe Commercial Property Update Returns from Dublin offices to slip further In spite of healthy occupier demand of late, poor rental growth prospects mean that total returns from Dublin offices will continue to be amongst the lowest in the euro-zone. 10th May 2019 · 1 min read
Europe Commercial Property Update Office rental growth lead to diminish in 2020-21 Western European office rents grew by 5.3% p.a. in 2016-18. We expect them to grow by little more than that over the next three years combined, as occupier demand slows and development completions... 2nd May 2019 · 1 min read
Europe Commercial Property Update Core French assets still offer good value A period of low, but stable growth and historically low interest rates will be supportive of demand for French assets over the next few years. While the retail sector is seeing evidence of some re... 26th April 2019 · 1 min read
