Europe Commercial Property Update Spanish retail rents: further to fall Spanish retail rents have held up surprisingly well given the severe downturn in the consumer sector. However, with unemployment at nearly 20%, household debt levels high and taxes set to rise this... 4th February 2010 · 1 min read
Europe Commercial Property Update RICS survey relatively upbeat on the Czech Republic Last week’s RICS Global Commercial Property Survey painted a mixed picture of commercial property investment market activity in Emerging Europe. The recovery seemed to be strongest in the Czech... 2nd February 2010 · 1 min read
Europe Commercial Property Update Downside risks to Czech and Polish retail rents still evident The latest European Commission survey revealed an encouraging, widespread further improvement in industrial confidence in Emerging Europe in January. But data revealed a far more mixed picture for... 28th January 2010 · 1 min read
Europe Commercial Property Update RICS survey upbeat on investment market, but not on rental values The RICS Global Commercial Property Survey released today confirmed that investment market activity in Western Europe rose in 2009Q4. It also indicated that the investment market recovery will be... 27th January 2010 · 1 min read
Europe Commercial Property Update Improvement in industry will be slow to feed through to rents The rise in industrial orders and production in the euro-zone in November is encouraging news for industrial property. However, with ample spare capacity in the sector, and the outlook for consumer... 25th January 2010 · 1 min read
Europe Commercial Property Update Norway: property outlook bright, but beware of downside risks We think that commercial property returns in Norway will be higher over the next few years than anywhere else in Western Europe. This Update elaborates on our thinking and also highlights some of the... 19th January 2010 · 1 min read
Europe Commercial Property Update Divergence in investor and occupier markets to continue We expect the divergence between the investor market and the occupier market, which started to appear in 2009, to continue in 2010. Initial data suggest that, although still low by historical... 18th January 2010 · 1 min read
Europe Commercial Property Update Euro-zone retail rental values will fall everywhere in 2010 The latest fall in euro-zone retail sales confirmed that the wider economic recovery has not yet spread to the consumer sector, despite nine consecutive monthly rises in consumer confidence. And, as... 7th January 2010 · 1 min read
Europe Commercial Property Update Labour market to weaken and weigh on German rents We expect commercial property rental values in Germany to fall across all sectors in 2010 and stabilise in 2011. In particular, we doubt that recent signs of an improvement in the German labour market... 5th January 2010 · 1 min read
Europe Commercial Property Update Ireland’s property market will remain in doldrums for next few years Ireland’s exit from recession in the third quarter provides less grounds for optimism about the outlook for commercial property than it may initially seem. Although rental value falls in Ireland have... 18th December 2009 · 1 min read
Europe Commercial Property Update Italy’s exit from recession does not spell end to occupier downturn The breakdown of Italy’s Q3 GDP data provided some good news for its retail and industrial property markets. However, the full effects of the drop in output over the past 12-18 months have yet to be... 10th December 2009 · 1 min read
Europe Commercial Property Update Depressed activity will prevent rapid rebound in Russian office rents The depressed level of economic activity in Russia is likely to keep the level of occupier demand for office space subdued over the next few years compared to levels recorded prior to the recession... 9th December 2009 · 1 min read
Europe Commercial Property Update Swedish economy continues to grow, but rental correction not over Recent Swedish GDP data confirmed the fragility of its economic recovery. In our view, the modest growth has done little to suggest that Sweden’s commercial property occupier market downturn is... 1st December 2009 · 1 min read
Europe Commercial Property Update Commercial property outlook rosier for France than Germany Over the next two years we think that the German economy will deliver slightly stronger growth than France. Even so, we think that the downside risks to French rental values are less, while a higher... 25th November 2009 · 1 min read
Europe Commercial Property Update Hungary – weak consumer to weigh on retail property performance Retail property yields and rental values in Hungary have proved surprisingly resilient to date. But if we are right that the outlook for household spending in Hungary is among the weakest in the... 24th November 2009 · 1 min read
Europe Commercial Property Update What do vacancy rates tell us about office rental prospects? At the start of the recession, office vacancy rates across Europe varied hugely. Yet, however tempting it may have been to assume that rental values in markets with the lowest vacancy rates were... 20th November 2009 · 1 min read
