Europe Commercial Property Update Are German office yields too low? The recent flow of bad news on the German economy might suggest that the office market is beginning to look expensive. Yet, office/bond yield spreads are nearly as high now as they were at their peak... 26th August 2011 · 1 min read
Europe Commercial Property Update Euro-zone GDP figures point to softening property investment market Now that it is clear that the economic weakness observed in the euro-zone’s peripheral economies over the past year or so is spreading to the region’s core, commercial property investors might begin... 17th August 2011 · 1 min read
Europe Commercial Property Update Will industrial rents in Belgian and Dutch markets continue to lead? The relatively strong macro drivers of industrial occupier demand in Belgium and the Netherlands are consistent with the fact that industrial rents in Brussels and Amsterdam are outperforming the rest... 16th August 2011 · 1 min read
Europe Commercial Property Update Risks of fresh declines in French retail rents have increased To date, the strength of demand from international retailers seeking to enter the French retail market has been sufficient to offset softening demand from incumbent brands, in turn helping to support... 13th August 2011 · 1 min read
Europe Commercial Property Update What is the outlook for Warsaw office rents? The current, double-digit pace of rental value growth in the Warsaw office market is not sustainable. But despite a large development pipeline, we believe that Poland’s relatively solid economic... 9th August 2011 · 1 min read
Europe Commercial Property Update Will Czech retail rental values recover this year? Over recent weeks, the downside risks to our forecasts for a modest recovery in retail rental values in Prague this year have increased. But, if we are right, some of the factors weighing on Czech... 29th July 2011 · 1 min read
Europe Commercial Property Update End of the road for German industrial yield compression? We suspect that Q2’s fall in yields may mark the end of the road for the German industrial investment market recovery. As our fears of a rapid slowdown in the manufacturing recovery are borne out... 26th July 2011 · 1 min read
Europe Commercial Property Update Euro-zone PMIs highlight the downside risks to occupier demand This morning’s flash euro-zone PMI release suggests that economic recovery in the region may have ground to a virtual halt. The fact that euro-zone manufacturing output is now barely rising supports... 22nd July 2011 · 1 min read
Europe Commercial Property Update Will the franc derail the Swiss occupier market recovery? It looks increasingly likely that the sovereign debt crisis in the euro-zone will take a heavy toll on the Swiss economy. As a result, the emerging recovery in Swiss commercial property rental values... 21st July 2011 · 1 min read
Europe Commercial Property Update How significant is the slump in Brussels office take-up? It is tempting to dismiss the recent slump in office market take-up in Brussels as noise in an otherwise positive trend. But it could reflect the early stages of a labour market slowdown as firms... 15th July 2011 · 1 min read
Europe Commercial Property Update Should we be concerned about the drop in Polish footfall? June’s drop in Polish footfall might suggest that the health of Poland’s retail occupier market is not as strong as many believe. However, the footfall figures are volatile. Together with the strong... 14th July 2011 · 1 min read
Europe Commercial Property Update Is rising construction confidence a downside risk to rental values? Rising construction confidence in Europe may be a sign that commercial property developers are gaining in optimism about the outlook for occupier demand and preparing to boost supply pipelines. Yet... 7th July 2011 · 1 min read
Europe Commercial Property Update Rising interest rates not yet a threat to Swedish property valuations Relative to historic norms and compared to many other markets, property/bond yield spreads in Stockholm seem quite low. However, the above-average outlook for rental value growth suggests that these... 6th July 2011 · 1 min read
Europe Commercial Property Update Office yields in Milan likely to fall behind core euro-zone markets Despite concerns about its solvency, financial markets are still giving the Italian economy the benefit of the doubt. For now, property investors are treating Milan’s office market in a similar... 2nd July 2011 · 1 min read
Europe Commercial Property Update Nordic investment market attractive, but difficult to enter The strength of the Norwegian and Swedish economies is consistent with reports that investment demand for commercial property in the Nordics among international funds is on the up. However, high... 30th June 2011 · 1 min read
Europe Commercial Property Update Too soon to turn positive on Irish commercial property Q1’s sharp rise in Irish GDP is not as encouraging as it first seems. Although the external sector appears to be booming, we do not expect this to last. More worryingly, domestic demand continued to... 24th June 2011 · 1 min read
