UK Commercial Property Focus Shopping centres: will the out-of-town/in-town gap get wider? The divergence between out-of-town and in-town shopping centre capital values is not over yet. We suspect that, over the next three years, stronger growth in rental values will deliver further gains... 6th June 2013 · 1 min read
Europe Commercial Property Update What is the outlook for Brussels retail property? The growing differential between office and retail yields in Brussels does not seem sustainable. But if, as we suspect, it primarily reflects investors’ views that retail has the best defensive... 5th June 2013 · 1 min read
UK Commercial Property Data Response Construction PMI (May) and Mergers & Acquisitions (Q1 13) The CIPS/Markit construction PMI and the latest mergers & acquisitions data suggest that occupier market conditions remain testing. Accordingly, there seems little prospect of a rental value recovery... 4th June 2013 · 1 min read
Europe Commercial Property Update Will lower interest rates halt the rise in Budapest property yields? Yesterday’s cut in official interest rates in Hungary is good news for property markets in Budapest. But we are sceptical that the latest easing cycle is sustainable. And if, as we expect, interest... 29th May 2013 · 1 min read
Europe Commercial Property Update Artificially low Zurich office yields set to rise The low level of prime office yields reported in Zurich could be a sign of strong investor confidence in that city. We suspect, however, that they have been artificially depressed by a small number of... 28th May 2013 · 1 min read
UK Commercial Property Chart Pack London offices remain the target for overseas buyers The investment market was very quiet in April, with only the office sector seeing a meaningful level of activity. In turn, most of those deals were in Central London, and involved overseas buyers... 23rd May 2013 · 1 min read
Non-Euro Europe Commercial Property Outlook Better out than in The outlook for economic growth in the economies outside the single currency region are typically a little brighter than for those within it. Hence we are a little bit more upbeat about near-term... 23rd May 2013 · 1 min read
Europe Commercial Property Outlook Property's stronger start to the year will fade The euro-zone recession shows few signs of easing and we have yet to see its full impact on European property values. At the aggregate level, capital values have been supported by further small falls... 23rd May 2013 · 1 min read
UK Commercial Property Update The better signs continue Over the past week or so the signs that commercial property investor confidence has picked up have continued to emerge. Any upturn in capital values is unlikely to be large or sustained until a... 20th May 2013 · 1 min read
Europe Commercial Property Focus Are Polish capital values likely to plunge again? The impact of the 2009 Polish economic slowdown on commercial property prices was exaggerated by the huge boom in rents and ‘over-convergence’ of property yields that characterised the preceding few... 15th May 2013 · 1 min read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q1 13) The latest RICS survey suggests that occupier demand is rising gently and that rents may be about to turn a corner, albeit with the retail sector continuing to lag. These data bolster our expectation... 14th May 2013 · 1 min read
UK Commercial Property Outlook The floor is here but upswing will be slow The main messages of our commercial property forecasts have not changed materially since the previous Analyst. At the all-property level, capital values are more or less at a floor and there is a good... 13th May 2013 · 1 min read
Europe Commercial Property Update How vulnerable are German office rents to the slowdown? In contrast to our forecast for a modest fall during 2013, German office rental values began the year by posting another rise. Yet with economic sentiment in Germany deteriorating and office take-up... 13th May 2013 · 1 min read
UK Commercial Property Update Spotting a turning point: look for a fall in average deal values We sense that property investors are poised for an upturn but not yet confident enough to become fully active again. One thing we will be watching for as a sign that a turning point has been reached... 10th May 2013 · 1 min read
UK Commercial Property Update Recession avoided: has the rental outlook just got better? It is clearly good that the economy has avoided another recession. But the news will do little to accelerate the much-needed recovery in commercial property rental values outside London. On past form... 8th May 2013 · 1 min read
Europe Commercial Property Update Czech office rental forecast risks move slightly to the upside Surveyors’ relatively upbeat views on Czech commercial property rental value growth prospects seem to be at odds with the weak tone of the latest agency and macroeconomic data. But together with signs... 7th May 2013 · 1 min read
