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
Europe Commercial Property Update What is the outlook for German office vacancy rates? The German economy seems to be getting back onto a solid footing. However, given the normal lags between developments in the economy and the property market, changes already seen in regional labour... 22nd August 2013 · 1 min read
Europe Commercial Property Update Could falls in Brussels office yields be sustained? The last few weeks have brought increased evidence that the Brussels office market is gaining popularity with national and international investors. For now, occupier market conditions remain pretty... 19th August 2013 · 1 min read
Europe Commercial Property Update Warsaw office market rental downturn has a little further to run The latest data suggest that occupier demand in the Warsaw office market is beginning to strengthen again. But with employment in the Polish capital still low and the near-term office development... 15th August 2013 · 1 min read
Europe Commercial Property Update Returning confidence in the Italian property market premature Signs of a renaissance in Italy’s commercial property investment market appear to be heavily reliant on investors targeting distressed property. To the extent that most investors are unwilling to buy... 12th August 2013 · 1 min read
Europe Commercial Property Update Where next for euro-zone property yields? The recent improvement in euro-zone business surveys is unlikely to mark the start of a strong and broad-based economic recovery. Nevertheless, by helping to underpin sentiment, it will increase... 6th August 2013 · 1 min read
Europe Commercial Property Update When will office rents in Milan and Paris turn the corner? In contrast to most euro-zone markets, the downturn in Milan and Paris office rental values was extended in the second quarter. The comparatively high level of rents in each market, the rising trend... 30th July 2013 · 1 min read
Europe Commercial Property Update Are euro-zone retail rental values at a turning point? Agency data show that prime euro-zone retail rental value growth came to an abrupt halt in Q2. With the underlying macroeconomic drivers of retail occupier demand still poor, we think that retail... 23rd July 2013 · 1 min read
Europe Commercial Property Update Falls in Brussels office yields look unsustainable Preliminary data that show prime office yields in Brussels fell in Q2 are hard to square with the weak picture of underlying occupier demand. Given this, we would not be surprised if the fall in... 19th July 2013 · 1 min read
