UK Commercial Property Chart Pack Modest yield increases continue to undermine capital values All-property initial yields edged up again in September, from 6.34% to 6.36%. As a result, capital values continued to drift lower, down by 0.4%m/m and 3.1%y/y. The drop in September was the 11th... 23rd October 2012 · 1 min read
UK Commercial Property Update Newsflow continues to point to improving investor confidence At the margin, this week’s Allsop auction results and the withdrawal of RBS from the Asset Protection Scheme (APS) both support the growing sense that sentiment towards the commercial property market... 18th October 2012 · 1 min read
Europe Commercial Property Update Are commercial property investment volumes in CEE set to recover? Given the weak economic outlook for the Emerging European economies and the fact that credit conditions are likely to remain tight, we suspect that over the next 18 months the recent rise in... 18th October 2012 · 1 min read
UK Commercial Property Update Is an industrial occupier market recovery underway? It is increasingly clear that certain types and grades of industrial property, e.g. prime distribution warehouses, are experiencing the early stages of an occupier market recovery. Given the weak... 17th October 2012 · 1 min read
Europe Commercial Property Update Will industrial rental value growth in Zurich outpace Geneva? Industrial rents seem to be more sensitive to changes in the Swiss economy in Geneva than in Zurich. And industrial rents in Geneva also look a little high compared to Zurich, at least relative to... 15th October 2012 · 1 min read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q3) Today’s RICS survey showed that occupier demand for property remained weak in Q3 and availability rose further. Of course, that is consistent with the weak economic backdrop. To us, the downside risks... 12th October 2012 · 1 min read
Europe Commercial Property Update Fundamentals still point to rising property yields in Paris The recent rebound in French real estate equity prices suggests that our forecast for commercial property capital values in Paris to fall by a total of 15% to 20% in 2012-13 may be too pessimistic... 10th October 2012 · 1 min read
Europe Commercial Property Update Are we too gloomy on the outlook for Spanish retail rents? Weak prospects for Spain’s consumer sector suggest that retail occupier demand will deteriorate before the end of this year. That together with a development pipeline which is still growing makes us... 9th October 2012 · 1 min read
UK Commercial Property Update Do not dismiss positive message from real estate equities We doubt that any recovery in IPD all-property capital values will come quite as soon or be quite as strong as is currently indicated by real estate equity prices. But, equally, we would not be... 9th October 2012 · 1 min read
Europe Commercial Property Update Just how weak are Greek property markets? Details surrounding last week’s privatisation deal involving the International Broadcasting Centre in Athens suggest that the Greek commercial property market may be even weaker than agency figures... 3rd October 2012 · 1 min read
Europe Commercial Property Update Is Warsaw's office market facing a period of excess supply? Agency estimates of a huge development pipeline seem to suggest that Warsaw’s office market faces a period of excess supply. After all, economic sentiment in Poland is deteriorating, and occupier... 1st October 2012 · 1 min read
UK Commercial Property Data Response Lending to commercial property (Aug.) August was the ninth consecutive month of negative net commercial property lending flows. Unfortunately, it is hard to avoid the conclusion that tough conditions in the property lending market are set... 1st October 2012 · 1 min read
UK Commercial Property Update Survey highlights downside risks to London office rents in 2013 On past form, the weakness of today’s CBI/PwC Financial Services Survey suggests that, over the next nine to 12 months, Central London office rental values could fall by as much as 10%. To us, that... 1st October 2012 · 1 min read
UK Commercial Property Update Survey highlights downside risks to London office rents in 2013 On past form, the weakness of today’s CBI/PwC Financial Services Survey suggests that, over the next nine to 12 months, Central London office rental values could fall by as much as 10%. To us, that... 1st October 2012 · 1 min read
Europe Commercial Property Update Cheap relative rents driving Frankfurt retail occupier appeal Recent evidence shows that the Frankfurt retail market is seeing very strong occupier demand. But this demand seems to be driven more by the low level of Frankfurt retail rents relative to the... 27th September 2012 · 1 min read
Europe Commercial Property Update Amsterdam headline office rents still insulated by incentives Increased use of rental incentives seems to have had a powerful dampening effect on the response of headline office rents in Amsterdam to swings – both up and down – in the vacancy rate. The... 25th September 2012 · 1 min read
