Europe Commercial Property Update Economic fundamentals point to softening German investment market Supported by a wider improvement in financial markets, investment demand for German commercial property surged in Q4 last year, despite the economy contracting sharply. But risk appetite looks to be... 26th February 2013 · 1 min read
Europe Commercial Property Update Should office and retail yields in Oslo be lower? The outperformance of the Norwegian economy is evident in above-average growth in office and retail rental values, but not in initial yields. However, rather than being a sign that property in Oslo is... 18th February 2013 · 1 min read
Europe Commercial Property Update Four reasons not to get carried away by better real estate equity prices The recent strength of European real estate equity prices would be consistent, on past form, with increases in physical property capital values this year. But we think there are four reasons why it is... 8th February 2013 · 1 min read
Europe Commercial Property Update Surveyors sound alarm bells for French and Dutch rents The generally weak picture of European commercial property occupier markets portrayed by the latest RICS global survey is broadly consistent with our own views on the near-term prospects for rental... 6th February 2013 · 1 min read
Europe Commercial Property Update How concerning for property is the Russian economic slowdown? The Russian economy cooled at the end of 2012, as we had expected, and growth is likely to remain lacklustre this year. However, although there are signs that the slowdown may be affecting the office... 1st February 2013 · 1 min read
Europe Commercial Property Update Could the spread between yields in Paris and Munich reverse sign? Recent data show that the French economy is lagging behind Germany. If we are right that this divergence will grow, the low levels of property yields in Paris relative to Munich look unsustainable... 30th January 2013 · 1 min read
Europe Commercial Property Update Risks to the Warsaw office rental outlook are building The recent news flow from Poland suggests that the office supply pipeline in Warsaw is growing while occupier demand is softening. A sharp rise in the office vacancy rate now looks unavoidable this... 23rd January 2013 · 1 min read
Europe Commercial Property Update Has European property investment turned a corner? The strong rise in European property investment volumes in Q4 was driven by only a handful of markets and appears largely seasonal. It is unlikely to be a sign that an upwards trend is forming. 22nd January 2013 · 1 min read
Europe Commercial Property Update Spanish industrial rents: manufacturing to fall further behind logistics Steeper falls in manufacturing output than in consumer spending in Spain help to explain the recent underperformance of Spanish manufacturing property rents relative to the logistics sector. And if we... 17th January 2013 · 1 min read
Europe Commercial Property Update Investor's preference for retail over office in Vienna is likely to persist Over the past year or so, investors in Austrian property appear to have switched their preference from the office to the retail sector. Against an uncertain economic outlook, we expect this preference... 15th January 2013 · 1 min read
Europe Commercial Property Update Emerging European property markets won't survive 2013 unscathed The results from this week’s EC survey suggest that, for most of Emerging Europe, commercial property occupier demand probably stagnated or deteriorated in the final quarter of last year. Hungary was... 11th January 2013 · 1 min read
Europe Commercial Property Update Euro-zone commercial property faces weak start to the year This morning’s EC survey suggests that euro-zone commercial property markets ended 2012 on a low note. What’s more, past form suggests that the weakening in economic sentiment already seen is... 8th January 2013 · 1 min read
Europe Commercial Property Update Copenhagen retail yields to resume upwards drift The surprising recent strength of the Danish consumer sector suggests that prime retail yields in Copenhagen may have peaked. But we think that retail occupier demand will suffer this year as, among... 4th January 2013 · 1 min read
Europe Commercial Property Update Will office rental values in Rome fall further than Milan? Recent falls in Italian office rental values are likely to be extended next year. But with a 10% drop in public sector jobs in the pipeline, occupier demand and thus rents, are likely to fall further... 20th December 2012 · 1 min read
Europe Commercial Property Update Further falls in European property investment likely in 2013 Our forecast that 2012 European commercial property volumes would be as much as 20% lower than in 2011 looks to be on track. Unfortunately, the conditions are not in place for a rebound in 2013. If... 13th December 2012 · 1 min read
Europe Commercial Property Update Will retail rents in Amsterdam and Helsinki continue to trend up? The relatively strong rise in Helsinki retail rental values seen since 2010 is not difficult to square with the underlying health of the Finnish economy. But it is less straightforward to justify... 11th December 2012 · 1 min read
