UK Commercial Property Outlook Another year of double-digit returns We have raised our forecasts for commercial property returns compared to our previous Analyst and now expect the market to deliver another year of double-digit returns in both 2015 and 2016. 17th February 2015 · 1 min read
Europe Commercial Property Chart Pack Record-breaking quarter for euro-zone investment Euro-zone commercial property investment volumes reached a record high in the fourth quarter of 2014. Such strong investment flows meant that competition for assets was strong, which in turn led to... 13th February 2015 · 1 min read
UK Commercial Property Update Have Central London retail yields hit a floor? While yields in most of the UK property market fell further in the final stages of last year, yields for Central London shops edged up. However, they are already exceptionally low relative to their... 12th February 2015 · 1 min read
Europe Commercial Property Update Can Brussels offices finally stage a rental recovery? Brussels office vacancy has been falling, but this is mostly attributable to the conversion of obsolete stock to residential uses, rather than expansionary activity. And with economic growth in... 10th February 2015 · 1 min read
UK Commercial Property Update Will property returns surprise on the upside again this year? At 19.3% IPD all-property returns for 2014 were roughly double the consensus forecast made in late 2013. Both we and the consensus expect returns to moderate, to around 10% this year, as the pace of... 5th February 2015 · 1 min read
Europe Commercial Property Update Are we overestimating the scope for office yield compression? Calculating implied yield expectations from RICS commercial property survey results suggests that respondents believe yields are close to their troughs in most office markets. Yet given that the... 5th February 2015 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Jan.) Having eased in the previous three months, the pace of construction activity in the commercial property sector inched up in January, suggesting that output rates in the sector are stabilising at... 3rd February 2015 · 1 min read
Europe Commercial Property Update How much further will Moscow rental values fall? Despite a fall in USD-denominated Moscow all-property rents of 16% in Q4, currency depreciation means that rents rose in ruble terms by 19%. That seems unsustainable. Short-term uncertainty... 29th January 2015 · 1 min read
Europe Commercial Property Update ECB QE to drive European commercial property yields lower still The real impact of the ECB’s new QE programme on GDP growth and occupier demand will initially be stymied by the Greek election results and the ensuing debt re-negotiations. However, investors will be... 27th January 2015 · 1 min read
UK Commercial Property Chart Pack Occupier markets go from strength to strength Recent business surveys which suggest that the economy may be starting to cool may be misleading given that these same surveys have recently overstated the economy’s strength. Indeed, steady growth in... 26th January 2015 · 1 min read
UK Commercial Property Update Is rental growth reaching a peak? The latest sharp drop in the pace of job creation was driven largely by a drop in self-employment. And given that total hours worked and the number of vacancies all continued to rise at a healthy pace... 22nd January 2015 · 1 min read
Europe Commercial Property Update What might Poland’s economic challenges mean for property? The growing risk of a deflationary spiral means the Polish Central Bank is likely to reduce interest rates to support demand. But the fall in the zloty against the Swiss franc could nevertheless... 21st January 2015 · 1 min read
Europe Commercial Property Update How will the Swiss franc’s appreciation affect property? Last week’s substantial Swiss franc appreciation has significantly dented the outlook for economic growth and occupier demand. It has also made Swiss property look even more expensive, especially to... 20th January 2015 · 1 min read
UK Commercial Property Update Few signs of a slowdown in the London office market Today’s CBI/PWC financial services sector survey appears to contain mixed messages for the Central London office markets. But any adverse impact on occupier demand from the drop in employment and... 19th January 2015 · 1 min read
Europe Commercial Property Update How will German logistics occupier demand fare this year? Despite Germany’s recent slowdown, logistics operators and customers report that market conditions are above average. And, despite our forecasts for overall soft economic growth this year, trade and... 14th January 2015 · 1 min read
UK Commercial Property Data Response RICS Construction Survey (Q4) Today’s RICS survey shows that activity in the construction sector softened a touch at the end of last year. However, forward-looking aspects for the survey suggest that construction firms still have... 12th January 2015 · 1 min read
