Europe Commercial Property Update Where next for industrial rents in Hungary? Provided that Hungary’s apparent slowdown in the pace of economic growth is short-lived, industrial rental values are more likely to continue to mark time over the next few quarters than to fall. But... 4th September 2014 · 1 min read
Europe Commercial Property Update Has the best passed for Portuguese property returns? The recent sharp drop in Portuguese property yields has not been excessive. But with yields no longer at a level that is obviously too high and the economic outlook still fragile, yield impact... 28th August 2014 · 1 min read
Europe Commercial Property Update Weak economic data suggest euro-zone rental upturn not imminent Recent, disappointing euro-zone economic data reaffirm our view that a meaningful, demand-driven commercial property rental upturn is not yet on the horizon. Given a looming floor for yields, this... 21st August 2014 · 1 min read
Europe Commercial Property Update Will office rental value growth in Barcelona outpace Madrid? To date, the stronger recovery in office-based employment in Barcelona has yet to be reflected in a rise in rental values. But over the next couple of years, we suspect that rents in Barcelona will... 19th August 2014 · 1 min read
Europe Commercial Property Update When will CEE office occupier demand take off? The recent fall in office take-up across the main CEE markets is a concern given the region’s large office development pipelines. But at the same time, the recent strength of office-based employment... 14th August 2014 · 1 min read
Europe Commercial Property Update Are rapid gains in Oslo retail rents underpinned by fundamentals? Solid Norwegian retail sales growth over the past few years seems to explain the rise in Oslo retail rental values. Granted, other factors such as changing retail trends are also at play. Nevertheless... 12th August 2014 · 1 min read
Europe Commercial Property Update Will Paris’ occupier demand outperformance last? Parisian office take-up grew by 55%y/y in the second quarter, but fell in three of the top four German cities, including a 45%y/y fall in Frankfurt. Nevertheless, the underlying weakness of the French... 7th August 2014 · 1 min read
Europe Commercial Property Update What next for Dutch office rents? We envisage only a modest improvement in office occupier demand in the Netherlands over the next year or two as economic growth and job creation disappoint. Yet office rents are likely to drift higher... 28th July 2014 · 1 min read
Europe Commercial Property Update Rental growth in Warsaw and Krakow set to boost retail capital values Poland’s strengthening labour market and rising consumer confidence bode well for retail occupier demand in Krakow and Warsaw. And, with little new supply in the pipeline, the prospects for rental... 24th July 2014 · 1 min read
Europe Commercial Property Update What explains the weakness of Belgian and Italian investment? Belgium’s weak economic fundamentals mean it sits near the bottom of the rankings in terms of core euro-zone commercial property investment destinations. While Italy suffers from an even weaker... 22nd July 2014 · 1 min read
Europe Commercial Property Update A positive outlook for Dublin retail property The latest data showing that Dublin’s employment and housing market recovery are running ahead of the rest of Ireland bode well for retail occupier demand in the Irish capital. And, with tight supply... 17th July 2014 · 1 min read
Europe Commercial Property Update CEE logistics capital values look set to rise Recent data confirm that a slowdown in euro-zone export orders has led to slowing of industrial production growth in the CEE region. Nevertheless, with rental values yet to rebound from post-crisis... 14th July 2014 · 1 min read
Europe Commercial Property Update How has employment in the main German cities been faring? Over the past six years, office-based employment growth in Munich has outperformed the other major German cities. In contrast, job creation in Frankfurt has been below par. This helps to explain the... 10th July 2014 · 1 min read
Europe Commercial Property Update Will France’s large shopping centre pipeline put pressure on rents? France’s large shopping centre pipeline is consistent with the below average level of existing stock. Although it is unlikely to result in a supply overhang, given the weak retail demand fundamentals... 9th July 2014 · 1 min read
Europe Commercial Property Update Swiss office rental value correction may not be over Subdued take-up combined with speculative development mean that the short-term risks for rental values in Geneva and particularly Zurich lie to the downside. Nevertheless, with GDP set to grow... 3rd July 2014 · 1 min read
Europe Commercial Property Update Could improved transparency drive yield compression? Ireland, Portugal, Hungary and Romania all registered strong improvements in JLL’s 2014 Global RealEstate Transparency Index. As such, in these countries the scope for yields to narrow seems to... 2nd July 2014 · 1 min read
