Europe Commercial Property Update Swiss occupier markets: what do the latest macro data tell us? Switzerland’s robust domestic economy is supporting retail occupier demand and rental values. By contrast, falling exports and slowing employment growth mean that the office and industrial occupier... 17th July 2013 · 1 min read
Europe Commercial Property Update Could the gap between yields in Prague and Warsaw narrow? Over the past five years, investors’ preference for property in Warsaw above Prague has been mirrored by yields in the Polish capital moving the lower of the two. But now that occupier market... 12th July 2013 · 1 min read
Europe Commercial Property Update German logistics capital values set to disappoint Our view that logistics property in Germany will underperform the other main commercial property sectors over the coming years is underpinned by the fact that, in both an international and historic... 9th July 2013 · 1 min read
Europe Commercial Property Update Russian property: is the best now behind us? The structural slowdown in Russian economic growth suggests that commercial property rents will enter a lower growth phase. This is a concern given that sustained, decent rates of rental growth are... 5th July 2013 · 1 min read
Europe Commercial Property Update Ireland – a false dawn for property? News that the Irish economy is back in recession is a reminder that Dublin’s property market still faces significant headwinds. Indeed, all-property capital values in Dublin could yet suffer another... 2nd July 2013 · 1 min read
Europe Commercial Property Update Which markets are most at risk from the rise in bond yields? The recent rise in bond yields is unlikely to feed automatically into higher European property yields. But to the extent that it increases concerns about the growth outlook and debt burdens, the... 26th June 2013 · 1 min read
Europe Commercial Property Update French logistics market to hold up better than office or retail The post-credit crunch underperformance by logistics capital values in France relative to the office and retail sectors may leave scope for a period of outperformance. Yet this morning’s business... 25th June 2013 · 1 min read
Europe Commercial Property Update Is it possible that Spanish property is now a good bet? Improvements in Spanish economic sentiment suggest that the recession has eased in the second quarter. Given that there is plenty of headroom for Spanish office and industrial capital values to rise... 20th June 2013 · 1 min read
Europe Commercial Property Update How sustainable are Stockholm office yields? The low level of Stockholm office yields reflects safe haven demand and Sweden’s comparatively strong economy. These factors are likely to support yields for the next year or so. On a five-year view... 19th June 2013 · 1 min read
Europe Commercial Property Update Hopes that CEE investment had turned a corner are dashed The likely drop in Central & Eastern European (CEE) investment volumes in Q2 will have dashed any hopes that the trend for activity might have turned a corner. Moreover, the recent sell-off in... 13th June 2013 · 1 min read
Europe Commercial Property Update Political instability a risk to Turkey's otherwise bright property outlook Growing civil unrest is one factor which we have previously highlighted as a risk to the medium-term outlook for Turkish commercial property returns. For now, we are sticking with our central... 12th June 2013 · 1 min read
Europe Commercial Property Update Are Czech industrial rents about to pick up? Recent Czech data seem to show that activity in the external sector is on the up. That bodes well for Czech industrial property. But the domestic economy is still fragile and demand from consumer... 6th June 2013 · 1 min read
Europe Commercial Property Update What is the outlook for Brussels retail property? The growing differential between office and retail yields in Brussels does not seem sustainable. But if, as we suspect, it primarily reflects investors’ views that retail has the best defensive... 5th June 2013 · 1 min read
Europe Commercial Property Update Will lower interest rates halt the rise in Budapest property yields? Yesterday’s cut in official interest rates in Hungary is good news for property markets in Budapest. But we are sceptical that the latest easing cycle is sustainable. And if, as we expect, interest... 29th May 2013 · 1 min read
Europe Commercial Property Update Artificially low Zurich office yields set to rise The low level of prime office yields reported in Zurich could be a sign of strong investor confidence in that city. We suspect, however, that they have been artificially depressed by a small number of... 28th May 2013 · 1 min read
Europe Commercial Property Update How vulnerable are German office rents to the slowdown? In contrast to our forecast for a modest fall during 2013, German office rental values began the year by posting another rise. Yet with economic sentiment in Germany deteriorating and office take-up... 13th May 2013 · 1 min read
