Europe Commercial Property Update Investment case for Italy weaker than Spain The recent return of some international investors to commercial property markets in Spain and Italy seems to reflect the rapid turnaround in sentiment in both economies over the past year or so. Our... 30th October 2013 · 1 min read
Europe Commercial Property Update Low interest rates supportive of Stockholm office values... for now Stockholm's office market appears to be in relatively good shape. Economic sentiment is rising, credit conditions for commercial property are strengthening, while this morning's decision by the... 24th October 2013 · 1 min read
Europe Commercial Property Update Is Polish property at a turning point? Recent data pointing to a sharp upturn in the Polish economy bode well for a gentle recovery in retail and industrial capital values in 2014. But the office market faces rising vacancy rates and a... 23rd October 2013 · 1 min read
Europe Commercial Property Update German office occupier demand set to strengthen Third-quarter agency data show that, overall, office occupier market activity in Germany's major markets has continued to trend lower. But take-up levels remain relatively high, while the positive... 18th October 2013 · 1 min read
Europe Commercial Property Update Portugal's commercial property market is still a risky bet There have been encouraging signs lately that international institutional investors might be returning to the Portuguese commercial property market. This would be consistent with the improvement in... 15th October 2013 · 1 min read
Europe Commercial Property Update Should we worry about Turkey’s shopping centre pipeline? Over the next 18 months, Turkey’s shopping centre market faces a 20% rise in supply. Yet unlike 2008 and 2011, when supply rose by a similar margin, occupier market fundamentals should prove more... 10th October 2013 · 1 min read
Europe Commercial Property Update Will Spanish property yields close the gap with core markets? The factors which have supported the sharp narrowing of the spread between Spanish and German government bond yields over the past year or so should also be supportive of Spanish property values... 8th October 2013 · 1 min read
Europe Commercial Property Update Are opportunities emerging in European non-prime property? The spreads between non-prime and prime yields in some of Europe’s core property investment markets have widened over the past few years. But without stronger evidence of a sustainable economic... 3rd October 2013 · 1 min read
Europe Commercial Property Update Are Dutch property markets finally responding to the weak economy? The resilience of Dutch commercial property markets to very weak economic fundamentals over the past few years may finally be fading. Previous supports such as the solid labour market and an increased... 26th September 2013 · 1 min read
Europe Commercial Property Update What does the end of Ireland’s recession mean for Dublin property? Last week’s data, which confirmed that the economy took another step forward in the second quarter, was welcome news for Irish property markets. But there was little sign of any material strengthening... 23rd September 2013 · 1 min read
Europe Commercial Property Update Still a long way to go for Italian and Dutch GOEF liquidations Changes to the legislation governing German Open-Ended Funds (GOEFs) this year seem to have been well received. The overall value of the sector has stabilised and new fund launches are being planned... 19th September 2013 · 1 min read
Europe Commercial Property Update What next for French and German capital values? September’s MPC minutes suggest that, despite the arguably disappointing impact of forward guidance, the Committee is happy with its policy stance. A resumption of quantitative easing (QE) before the... 17th September 2013 · 1 min read
Europe Commercial Property Update Bumpy path ahead for Turkish retail yields Yesterday’s Q2 GDP data from Turkey suggest that retail occupier demand in Istanbul and Ankara is currently pretty strong. Against this backdrop, we think retail yields in both markets could fall... 11th September 2013 · 1 min read
Europe Commercial Property Update Is industrial property in Prague poised to outperform? Our forecasts envisage that by end-2017, office and retail capital values in Prague are unlikely to be materially higher than current levels. By contrast we think that industrial values might rise by... 10th September 2013 · 1 min read
Europe Commercial Property Update What can we glean from regional unemployment data in the euro-zone? Unlike in Germany, regional labour market data from elsewhere in the euro-zone do not give much of a steer on the likely near-term paths of local office market vacancy rates. However, they do suggest... 6th September 2013 · 1 min read
Europe Commercial Property Update Euro-zone retail occupier markets strengthening, but values still at risk The main issue with UK regional indicators published in August was the poor economic performance that the Labour Force Survey ascribed to several regions, including London. Our view is that the LFS... 4th September 2013 · 1 min read
