Europe Commercial Property Update Little cause for optimism on prospects for Italian retail rents A weak economy means that prime rents in the Milan and Rome retail markets are more likely to stagnate this year than to repeat 2015’s sharp increase. We have pencilled in modest increases in rental... 16th January 2017 · 1 min read
Europe Commercial Property Update Investment in Germany slips, but pricing continues to firm Following a record 2015, investment activity in Germany slipped a little in 2016. However, prime office yields fell further in Q4, suggesting that investors still see value in the German market. 13th January 2017 · 1 min read
Europe Commercial Property Update Retail rental growth in Ireland to continue to outperform Prime retail rents in Dublin have topped the euro-zone league table for growth since 2014. With good consumer spending prospects and tight supply, we think that rents in the Irish capital will... 11th January 2017 · 1 min read
Europe Commercial Property Update Secondary property to outperform in Sweden Five of the six largest Nordic investment transactions in 2016 involved portfolios in Sweden. We think that reflects growing confidence in the outlook for non-prime properties in the region’s largest... 6th January 2017 · 1 min read
Europe Commercial Property Update Six key calls for European commercial property in 2017 As a new year begins and investors focus on key themes and forecasts for the year ahead, we have taken the opportunity to outline some of our key calls for 2017 and the thinking behind them. 4th January 2017 · 1 min read
Europe Commercial Property Update Netherlands logistics rents to rise, but only gradually Low vacancy rates and high capital values are driving high levels of logistics development in the Netherlands. Although we see potential for rents to tick up in the next few years, we do not expect... 22nd December 2016 · 1 min read
Europe Commercial Property Should investors be worried by the ECB’s apparent taper? The ECB’s recent announcement of a slower rate of asset purchases is not a sign that the normalisation in euro-zone monetary policy has moved closer. We therefore expect Bund yields to be still close... 16th December 2016 · 1 min read
Europe Commercial Property Update Prime retail a bright spot among Swiss occupier markets A slowing Swiss economy doesn’t bode well for the near-term outlook for office and industrial rents in Geneva and Zurich. But with prime retail rents seemingly disconnected from the domestic economy... 14th December 2016 · 1 min read
Europe Commercial Property Update Signs point towards higher German industrial rents Tight supply and a positive demand outlook point towards a rise in prime German industrial rents. Indeed, we think rental growth prospects are relatively strong compared to the last ten years. 9th December 2016 · 1 min read
Europe Commercial Property Update Bucharest industrial rents have further to rise Contrary to popular belief, we think that it has been the strength of the domestic economy, rather than firms relocating to Romania on cost grounds, which has caused prime Bucharest industrial rents... 7th December 2016 · 1 min read
Europe Commercial Property Update Should investors be concerned by the rise in Italian bond yields? Italian government bond yields have almost doubled over the past few weeks. Nevertheless, we do not see this as a reason for property investors to panic and expect prime Italian property yields to... 24th November 2016 · 1 min read
Europe Commercial Property Update Slower Spanish retail rental growth likely to prove temporary Retail rental growth in Barcelona and Madrid has slowed recently, despite the continued strength of retail sales. With weaker domestic demand on the horizon, rental growth is likely to ease further... 18th November 2016 · 1 min read
Europe Commercial Property Update How far can German property yields fall? Prime property yields in Germany continue to fall. Yet, despite being well below pre-financial crisis lows, commercial property still looks fairly valued relative to other assets. With the ultra-loose... 7th November 2016 · 1 min read
Europe Commercial Property Update Retail rental growth in Lisbon down but not out Prime retail rents in Lisbon have risen by more than one-third in the last six years, supported by policy reform, a rise in tourist numbers and an economic recovery. But, with slower economic growth... 3rd November 2016 · 1 min read
Europe Commercial Property Update Rally in Berlin office rents not over yet Prime office rents in the German capital, Berlin, have surged this year. With a positive economic environment and limited development pipeline, the rise in rental values has further to run. 28th October 2016 · 1 min read
Europe Commercial Property Update What might derail our European property yield forecasts? The prevailing view is that European property yields have essentially reached their trough. But we disagree and have pencilled in falls of 40bps from here. Nevertheless, it is prudent to ask what... 21st October 2016 · 1 min read
