Europe Commercial Property Are data centres a viable alternative? Thanks to changing consumption patterns and structural and cyclical knocks to the traditional property sectors, both occupier and investor demand for data centres set new records last year. But, while... 19th March 2021 · 3 mins read
US Commercial Property Update Chicago to be among the office market “winners” Our analysis suggests that both higher asking rents and a greater proportion of information jobs have been associated with a larger rise in sublease vacancy in recent quarters. We think there are good... 17th March 2021 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Feb.) After a stronger than expected increase in January, commercial real estate debt fell back in February. This suggests that last month’s gain was a one-off and not the start of a rapid acceleration... 12th March 2021 · 2 mins read
US Commercial Property Update Major downgrade to office occupancy forecasts On the back of deeply negative office absorption last year and the continued flow of announcements from firms cutting their office space, we have made major revisions to our demand forecasts across... 10th March 2021 · 3 mins read
US Housing Reopening less of a positive for Boston apartments Greater availability, lower prices and proximity to NYC have supported demand for Boston apartments during the pandemic. That implies demand may edge back as the country reopens, and some workers... 5th March 2021 · 3 mins read
US Commercial Property Update Property valuations look solid despite rising bond yields A few weeks ago, we nudged up our Treasury yield forecasts for year-end 2021 and 2022, to 1.5% and 1.75% respectively. While intra-day yields exceeded 1.6% at one point last week, we don’t expect a... 4th March 2021 · 3 mins read
Europe Commercial Property Update The long view of property In light of our latest long-term economic and financial market forecasts, we have revisited our views for commercial property performance over the next three decades. We think that average returns... 1st March 2021 · 3 mins read
US Commercial Property Valuation Monitor Rising Treasury yields squeezing property valuations On the back of rising Treasury yields, property valuations took their first hit in eight quarters during Q4. And, with Treasury yields climbing higher since, it is likely that valuation scores will... 26th February 2021 · 6 mins read
US Commercial Property Update Two more years of underperformance for malls Permanent increases in certain types of online sales will mean that regional and super-regional malls underperform the other retail sub-sectors for at least the next two years. Our forecasts point to... 23rd February 2021 · 3 mins read
US Commercial Property Chart Pack Sector and city performance to remain uneven Fiscal and monetary stimulus have kept economic growth solid and will support a continued recovery. While this bodes well for occupier demand, structural factors have weighed heavily on the office and... 18th February 2021 · 11 mins read
Asset Allocation Long-Term Outlook 2020s unlikely to be a rerun of the 1930s and 2000s We anticipate that US equities will outperform long-dated Treasuries over the next ten years, even though the valuation of the stock market is even higher now than it was at the beginning of the 1930s... 16th February 2021 · 19 mins read
US Commercial Property Data Response Commercial Property Lending (Jan.) Commercial real estate debt growth picked up in January, seeing its strongest rise since April. That likely reflects a sharp increase in investment deals completed at the tail-end of 2020. While this... 12th February 2021 · 2 mins read
US Commercial Property Update Industrial REIT pricing points to a forecast upgrade The performance of the major FTSE NAREIT sub-sectors since the end of 2019 appears to suggest that our forecasts for 2021 might be too weak for industrial and too strong for the office and apartments... 10th February 2021 · 3 mins read
Europe Commercial Property Update The future for city property In our Future of Property research, we identified important post-pandemic shifts in most real estate sectors. How these trends interact will be key to the outlook for the urban locations where most... 4th February 2021 · 6 mins read
US Commercial Property Update New space brings downgrade to NYC office rents The limited impact of the virus on New York City office construction means that we now expect at least 10mn sq. ft. of office space to be added across 2022-23. This could cause the vacancy rate to... 2nd February 2021 · 3 mins read
US Commercial Property Data Response RICS Commercial Market Survey (Q4) Market sentiment remained close to cyclical lows, with rental and capital value expectations deeply negative for office and retail. But there are signs that the market is nearing a turning point, with... 28th January 2021 · 2 mins read
