UK Commercial Property Data Response RICS Construction Survey (Q1) December’s snow may have distorted the data, but the latest RICS survey nevertheless showed that commercial property, driven by London’s office market, was the only sector to see a rise in... 19th May 2011 · 1 min read
Europe Commercial Property Update Cracks between euro-zone core and peripheral markets widen Today’s euro-zone GDP data will do nothing to boost investor sentiment towards commercial property in the region’s troubled peripheral economies. Rather it supports forecasts that the gap between... 13th May 2011 · 1 min read
UK Commercial Property Update Will the feared, fresh slump in non-prime capital values be avoided? Over the next 12 to 18 months, non-prime capital values in some sectors and regions may well continue to drift lower. But the mismatch between the weight of equity targeting the UK market and the... 12th May 2011 · 1 min read
Europe Commercial Property Update German industrial recovery still insufficient to trigger rental growth This morning’s German trade balance data, together with last week’s production data, suggest that Germany’s industrial recovery still has plenty of momentum. Yet, the strong recovery seen so far has... 9th May 2011 · 1 min read
Europe Commercial Property Update Is the RICS survey too harsh on Czech rental growth prospects? This morning’s RICS global survey painted a fairly positive picture of Emerging European commercial property occupier markets, particularly in Poland, Russia and Turkey. But surveyors seem to be... 6th May 2011 · 1 min read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q1) The latest RICS Construction Survey had a distinctly negative tone, with activity in all sub-sectors falling in Q3. Given construction’s key role in the wider recovery to date, the survey thus... 6th May 2011 · 1 min read
UK Commercial Property Focus Will London offices outperform the Big Six over 2011-13? Our analysis suggests that total returns in London’s City and West End office markets over 2011-13 will be higher than other major UK cities, i.e. the “Big Six”. Our forecast is that Central London... 5th May 2011 · 1 min read
Europe Commercial Property Update Will retail continue to be investors' sector of choice in Europe? In Q1 2011, the retail sector accounted for the greatest share of total European commercial property investment market activity. However, this morning’s dreadful retail sales data are consistent with... 4th May 2011 · 1 min read
UK Commercial Property Data Response Property Lending (Q1) & Construction PMI (Apr) Commercial property development activity grew solidly again in April but other data show that credit availability in the sector more generally remains pretty tight. Given this, and our expectation... 4th May 2011 · 1 min read
Europe Commercial Property Update Tighter credit to weigh on the commercial property recovery Today’s ECB Bank Lending Survey makes disappointing reading for the commercial property market. The renewed tightening in credit conditions to both households and firms adds to the case for expecting... 27th April 2011 · 1 min read
UK Commercial Property Chart Pack March's capital gain the strongest in nine months All-property rental values remained broadly stable in January, though again this owed much to rises in the City and West End office markets, which offset falls elsewhere. All-property initial yields... 27th April 2011 · 1 min read
UK Commercial Property Update Are Central London office yields too low? In our view, the historically large yield differentials between Central London and regional offices can be justified by relative rental growth prospects. But that judgement is finely balanced and it... 20th April 2011 · 1 min read
Europe Commercial Property Update Euro-zone industrial rents unlikely to rise until 2012 or later The combination of a high proportion of underutilised stock and early signs that the euro-zone industrial recovery is now starting to lose momentum, suggests that most euro-zone industrial markets are... 15th April 2011 · 1 min read
UK Commercial Property Update Have institutions' property allocations passed their trough? Over the next few years, it seems likely that UK investing institutions will buck the long-term trend and raise their allocations to property. Any increase in proportional terms, however, would... 15th April 2011 · 1 min read
Europe Commercial Property Update Have Spanish office rents reached a floor? Preliminary agency data shows that office rental values in Madrid and Barcelona fell further in the first three months of the year. It is tempting to conclude that having dropped by almost a third... 14th April 2011 · 1 min read
UK Commercial Property Update Is West End retail's outperformance set to end? West End retail property remained a star performer in 2010. But relative rents in this prime segment are now at a record high while relative yields are at a record low. Both suggest that Central... 13th April 2011 · 1 min read
