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
Europe Commercial Property Update CEE investment volumes still on upward trend, but remain subdued The trend for investment volumes among CEE property markets still appears to be upward. However, activity remains well below peak levels and restricted only to a handful of markets, namely Poland... 23rd June 2011 · 1 min read
Europe Commercial Property Update Have the downside risks to the French retail market increased? Signs that French consumer spending has fallen sharply over the past couple of months might make our forecast for retail rental values to track sideways this year look too optimistic. Yet, in the... 18th June 2011 · 1 min read
Europe Commercial Property Update Office yields in Vienna offer some near-term upside potential The Viennese office market seems to be suffering from the weakness of cross-border investment activity in Europe. Nevertheless, the economic fundamentals look sound, suggesting that over the next year... 16th June 2011 · 1 min read
Europe Commercial Property Update Will Warsaw industrial rents continue to lag behind? The recent underperformance of industrial rental values in Warsaw relative to rest of Emerging Europe appears to stem from the fact that consolidation rather than expansion has been a key driver of... 8th June 2011 · 1 min read
Europe Commercial Property Update Spanish commercial property investment market not out of the woods The Q1 2011 RICS distressed property monitor points to the largest rises in the number of distressed properties coming onto the market in Q2 in Spain and Ireland. Investment demand in Ireland will not... 6th June 2011 · 1 min read
Europe Commercial Property Update Copenhagen retail market looking increasingly overpriced Q1’s fall in Danish consumer spending suggests that it may take a little longer for retail rental values in Copenhagen to recover than we previously expected. Given their low level, we cannot rule out... 2nd June 2011 · 1 min read
Europe Commercial Property Update Has the decline in Moscow all-property yields run its course? On a two or three year view, we would not be surprised to see Moscow all-property yields drop by a further 50-100bps. But over the rest of this year, uncertainty over the outcome of next year’s... 25th May 2011 · 1 min read
Europe Commercial Property Update Will Istanbul be next to join the office rent recovery? Unlike in Warsaw and Moscow, office rents in Prague, Budapest, Bucharest or Istanbul have not risen over the past year. But the latest macroeconomic and occupier market data signal that Istanbul will... 20th May 2011 · 1 min read
