Europe Commercial Property Update

Italian industrial upswing has further to run

The Italian industrial market made a strong start to 2024, with prime rent growth outpacing the rest of the euro-zone and beating our own forecasts. Rental gains are still expected to slow going...

9th May 2024 · 3 mins read

Europe Commercial Property Update

Luxury rental growth to outperform mass market retail

The rebound in prime retail rents is set to wane this year. But we think prime rents on luxury high streets will continue to outperform those of mass markets in the coming years.

7th May 2024 · 3 mins read

Europe Commercial Property Update

Further rises in property yields still on the cards

The weakness in euro-zone investment in Q1 highlights that the pricing correction to date has not been enough to entice investors back to the sector. Lower market interest rates will support the...

2nd May 2024 · 3 mins read

US Commercial Property Update

Share of remote work key to global office performance

The wide divergence in global office market performance to-date has been driven by significant differences in the return to office and the impact that has had on occupiers’ leasing decisions. US...

29th April 2024 · 5 mins read

Europe Commercial Property Update

Still-weak sentiment consistent with sluggish recovery

The latest RICS survey suggested that there was a further improvement in occupier and investment demand at the beginning of 2024. However, the big picture was one of a very weak market, reaffirming...

25th April 2024 · 3 mins read

Europe Commercial Property Update

Oslo offices to lead the way in Scandinavia

Prime office rent growth in Scandinavia is expected to moderate in the coming years as soft demand and rising supply push up vacancy. But having trailed the other Scandinavian cities in 2023, we think...

23rd April 2024 · 3 mins read

Europe Commercial Property Update

Expect subpar rental performance in Germany

While rental performance in German commercial property markets has been relatively solid given the country’s poor economic performance over the past five or so years, we think this is set to end.

16th April 2024 · 3 mins read

Europe Commercial Property Update

Answering questions from our recent Drop-In

This week we held a Drop-In on the outlook for euro-zone commercial property. Clients can access a recording here. This Update provides answers to the most interesting questions that emerged from the...

11th April 2024 · 3 mins read

Europe Commercial Property Update

CEE industrial rents to trail the rest of Europe

The CEE industrial market cooled in 2023 as economic activity stagnated. This year will herald an economic recovery but we don’t think it will be stop the rent growth slowdown. Demand is anticipated...

4th April 2024 · 3 mins read

Europe Commercial Property Update

Paris prime office rent gains to slow

After a solid 2023, we expect Paris prime office rental growth to slow markedly over the next couple of years as demand softens, supply rises and affordability bites. That said, rental gains over 2024...

27th March 2024 · 3 mins read

Europe Commercial Property Update

Rents rising but a retail renaissance in 2024 is unlikely

The revival of prime retail rental growth in 2023 ended a three-year rental decline for the sector. This likely marks the end of retail’s rental woes and we have nudged up our prime rent forecast for...

14th March 2024 · 3 mins read

Europe Commercial Property Update

Peak in yields is near, but little scope for compression

Improved valuations suggest that the price correction in prime property is almost done. However, with little scope for bond yields in continental Europe to fall from here and property-to-bond yield...

13th March 2024 · 3 mins read

Europe Commercial Property Update

Drop back in office completions to support prime rents

Completions in Europe are set to increase over the next year or so as construction delays unwind, which will contribute to rising vacancy. However, we expect the upward pressure from supply to ease...

5th March 2024 · 3 mins read

Europe Commercial Property Update

Germany not the only source of debt distress in Europe

Recent media attention has focused on the downturn in Germany and the travails of its lenders exposed to the crash in property values both domestically and in the US. While the focus on Europe’s...

1st March 2024 · 3 mins read

Europe Commercial Property Update

Answering questions from our debt distress Drop-In

This week we held a Drop-In on commercial property distress across the US, UK and Europe. Clients can access a recording here and find related analysis on our dedicated landing page. This Update...

16th February 2024 · 3 mins read