Europe Commercial Property Update Are we too downbeat on office rent prospects in Germany and Geneva? Survey evidence suggests that the main German cities, as well as Geneva and Moscow, are the current, preferred destinations for firms looking to expand into new markets. Yet while this points to a... 15th October 2011 · 1 min read
Europe Commercial Property Update Ireland's strong economic growth has yet to revive occupier demand Ireland’s robust rebound in economic output so far this year does not appear to have meaningfully improved the health of Dublin’s commercial property occupier markets. Although rents may now have... 13th October 2011 · 1 min read
UK Commercial Property Update Little reason to expect new QE to have major impact on property Commercial property is no longer obviously undervalued and, rather than a shortage of cash, it is a lack of suitable buildings available to buy that is currently the biggest problem for many investors... 11th October 2011 · 1 min read
Europe Commercial Property Update German industrial property looks vulnerable to a shift in sentiment For now, the risks of a marked fall in prime industrial rental values in Germany look low, despite the recent downbeat industrial data. But the comparatively low level of industrial yields in Germany... 8th October 2011 · 1 min read
Europe Commercial Property Update Which markets are most at risk from excess retail supply? Yesterday’s retail sales data showed that domestic demand is weakening across most of Europe. And there is little reason to expect the pace of household spending to improve in 2012. Against that... 7th October 2011 · 1 min read
UK Commercial Property Focus Will commercial property prices start to fall again in 2012? Despite recent financial markets turmoil and the knock-on effects for the real economy, we do not think that the outlook for growth and employment has yet deteriorated to a level that merits a... 6th October 2011 · 1 min read
UK Commercial Property Data Response Construction PMI (Sep.) & Institutional Property Investment (Q2) Today’s CIPS/Markit PMI showed that commercial property construction continues to grow steadily. However, the weak economic outlook suggests that it is more likely to slow sharply over the medium term... 5th October 2011 · 1 min read
UK Commercial Property Update Weaker financial services sector points to soft office rent outlook Compared with recent quarters, the tone of the latest CBI/PwC Financial Services Survey was pretty weak. Of course, given the turmoil of the past few months, that is no major surprise. Even so, today... 4th October 2011 · 1 min read
Europe Commercial Property Update Oslo office rental outperformance close to an end The office market in Oslo has been one of Europe’s star performers over the past year. Yet, there are good reasons to believe that the best of Oslo’s office occupier recovery may now be behind us... 1st October 2011 · 1 min read
Europe Commercial Property Update Slowing GDP growth unlikely to derail Polish investment market revival Our sub-consensus view that Polish GDP growth will slow to about 2.5%y/y in 2012 might suggest that the recent surge in commercial property investment activity could lose momentum. However, even if... 28th September 2011 · 1 min read
UK Commercial Property Focus Can hotels weather the consumer spending slump? By contrast with the track record of outperformance, we expect hotel property total returns to average about 7% p.a. over 2011-13, below the all-property figure of about 8%. 28th September 2011 · 1 min read
Europe Commercial Property Update Is the Italian retail market as safe an investment as some think? Anecdotal evidence suggests that many investors believe that the Italian retail market offers a better risk profile than offices or industrial. We are not convinced. Indeed, with consumer spending... 24th September 2011 · 1 min read
UK Commercial Property Chart Pack No respite on the horizon for retail occupier markets Apart from Central London, where shop vacancy is now almost nonexistent, there remains little cause for optimism about retail occupier markets. Admittedly, there will be very few new shopping centre... 23rd September 2011 · 1 min read
Europe Commercial Property Update Have Hungarian retail yields fallen too far? The recovery in Hungary has disappointed in recent months and economic growth is likely to remain lacklustre in 2012 and 2013. That represents a downside risk for commercial property, but especially... 22nd September 2011 · 1 min read
UK Commercial Property Update Real retail rental value correction on track to be largest ever In recent months, retail property rental value trends – which were already pretty weak – have taken a turn for the worse. What’s more, the recent data-flow, such as weak retail sales and problematic... 17th September 2011 · 1 min read
UK Commercial Property Data Response Financial and business services sector jobs (Q2) Financial and business services (FBS) sector employment edged lower in Q2, which reinforces the downside risks to Central London office rental values. For now, supply constraints should see further... 15th September 2011 · 1 min read
