Europe Commercial Property Update Budapest retail to produce five years of double-digit returns The recovery in Hungarian consumer spending is likely to be sustained, boosting occupier demand from new entrants. In the absence of new supply, this will drive rents upwards and encourage investment... 8th March 2016 · 1 min read
Europe Commercial Property Update Should investors be concerned about Poland’s shift to populism? There is a risk that medium-term rental growth in Poland will be lower due to the populous policies pursued by its new government. However, in the short-term, we think property investors will be more... 26th February 2016 · 1 min read
Europe Commercial Property Update Recent volatility in Portuguese bond yields a worrying sign for property Given the historic correlation between property yields in Lisbon and Portuguese government bond yields, the recent spike in bond yields seems worrying. Although a correction in property yields does... 25th February 2016 · 1 min read
Europe Commercial Property Update Will falling rents push up prime Oslo office yields? Compounded by a negative rental growth outlook, Oslo offices appear overvalued. However, with foreign investors likely to be lured by the historically weak kroner and domestic investors keen on prime... 23rd February 2016 · 1 min read
Europe Commercial Property Update Office rents in Frankfurt will underperform in 2016 Frankfurt’s office sector has struggled to shake off the legacy of the credit crunch and structural changes in the local labour market. Add in the likely dampening impact of the recent falls in equity... 12th February 2016 · 1 min read
Europe Commercial Property Update European Prime Offices Begin to Look Fully Valued The falls in office yields witnessed in 2015, alongside the stabilisation of yields for other asset classes, mean that European office property no longer looks undervalued. Indeed, whilst the majority... 11th February 2016 · 1 min read
Europe Commercial Property Update Prime Property Yield Falls to Slow in 2016 Prime yields fell substantially in 2015, but the rate of yield compression moderated in the third quarter. We think that yield falls will slow in most Western European markets in 2016, but that there... 10th February 2016 · 1 min read
Europe Commercial Property Update How strong is the outlook for the logistics occupier market in France? Despite the relatively slow economic growth we expect to see in France in the coming years, structural changes in the retail and logistics markets mean that occupier demand for industrial property... 5th February 2016 · 1 min read
Europe Commercial Property Update Flat retail rents in Spain are not a sign of things to come Retail rents in Madrid and Barcelona were flat in Q4. Yet the steady outlook for consumption, coupled with strong growth in tourism, suggests that rents will resume their upward trend this year. 4th February 2016 · 1 min read
Europe Commercial Property Update RICS survey highlights overvaluation concerns in core markets The most notable development in the latest RICS Global Commercial Property surveys is the increase in the proportion of respondents who view property in the core European markets as expensive. Yet a... 2nd February 2016 · 1 min read
Europe Commercial Property Update RICS survey highlights overvaluation concerns in core markets The most notable development in the latest RICS Global Commercial Property surveys is the increase in the proportion of respondents who view property in the core European markets as expensive. Yet a... 2nd February 2016 · 1 min read
Europe Commercial Property Update How big are the risks to retail rental growth in Stockholm? We do not expect either a slowing in house price growth or the newly-built Mall of Scandinavia to derail our retail rental value growth forecasts for Stockholm. As a result, we believe that in terms... 29th January 2016 · 1 min read
Europe Commercial Property Update Will higher corporate credit spreads produce a spike in property yields? In view of their strong past relationship, the latest jump in corporate bond yields could be a sign of an imminent turning point for European property markets. However, we are inclined to look through... 26th January 2016 · 1 min read
Europe Commercial Property Update Berlin becomes Germany’s biggest investment market Berlin became Germany’s largest investment market in 2015, with investment growth of 120%, far outpacing that in the other major cities. Despite Berlin ranking far above Frankfurt in surveys of... 25th January 2016 · 1 min read
Europe Commercial Property Update Will falling oil and equity prices undermine European property? Fears about China, as well as plunging oil and equity prices, have dominated the start of 2016. However, we believe that concerns over China are overstated and that oil prices will begin to recover... 21st January 2016 · 1 min read
Europe Commercial Property Update Perceptions of investment prospects improve across Europe In PWC’s 2016 Emerging Trends in Real Estate survey, the most notable change in the city investment prospects segment is Athens’ fall back to the bottom of the rankings. Elsewhere, investment... 18th January 2016 · 1 min read
