UK Commercial Property Update Treat negative tone of property derivatives pricing with care The prospects for commercial property returns, while not without downside risks, are better than current derivatives pricing implies. The key problem here is that landlords, i.e. “producers” of... 5th October 2010 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Sep.) Today’s PMI suggested that commercial property construction accelerated sharply in September, pointing to continued confidence on the part of developers about the prospects for occupier demand... 4th October 2010 · 1 min read
A weaker 2011 in prospect A period of fiscal austerity will weigh on economic recoveries in the euro-zone and Emerging Europe over the next few years. The healthier state of public finances in Scandinavia and Switzerland... 4th October 2010 · 1 min read
Europe Commercial Property Focus How much further will Russian property yields fall? Compared to US Government bonds and Russian equities, as well as property markets in other countries, Russian property still appears to be attractively priced. As such, investment demand looks set to... 1st October 2010 · 1 min read
UK Commercial Property Data Response Credit Conditions Survey (Q3) and Property Lending (Aug.) Net lending to commercial property was substantially negative again in August and, given banks’ and building societies’ high exposure to the sector, we would expect net lending to remain weak. Today’s... 30th September 2010 · 1 min read
UK Commercial Property Chart Pack Investment activity softens; capital values flat (Oct 10) The economy is now estimated to have grown by 1.2%q/q in Q2, up slightly from the original estimate of 1.1%. However, that is likely to mark the peak for growth and we continue to think that a renewed... 28th September 2010 · 1 min read
UK Commercial Property Update Financial services recovery continues; office rental outlook solid Today’s CBI/PwC Financial Services Survey suggested that, in Q3 2010, output in this sector of the economy rose for the fifth consecutive quarter. A composite measure of some of the main survey... 27th September 2010 · 1 min read
UK Commercial Property Data Response Institutional investment in property (Q2 10) Net institutional property investment in Q2 was positive for the third consecutive quarter. With funds still having cash available to place in the market, our view remains that recent falls in... 24th September 2010 · 1 min read
Europe Commercial Property Update Ireland's property market is a long way from recovery Yesterday’s disappointing Q2 Irish GDP figures support our view that the economy will stagnate at best over this year and next. Although commercial property prices have already fallen by more than 70%... 24th September 2010 · 1 min read
Europe Commercial Property Update CEE retail rental values are unlikely to recovery anytime soon Within Central & Eastern Europe, there have been some signs of a recovery in occupier demand, most notably in Poland. However, despite supply pipelines having been drastically reduced across the... 23rd September 2010 · 1 min read
UK Commercial Property Update Vacant space to weigh on industrial rents for some time to come The industrial sector of the economy has recorded decent growth in recent quarters but the outlook for GDP, ultimately the key influence on demand for industrial property, remains weak. And with the... 23rd September 2010 · 1 min read
Europe Commercial Property Update Will a lack of supply drive a recovery in European office rental values? A shortage of supply in the Central London office market is likely to drive relatively strong rental growth this year and next. In Europe, however, although office development pipelines have also been... 16th September 2010 · 1 min read
UK Commercial Property Data Response Financial and business services sector jobs (Q2 10) The number of jobs in the financial & business services (FBS) sector rose again in Q2, taking the increase since the start of the year to 1.7%, or 104,000 jobs. We remain cautiously optimistic about... 15th September 2010 · 1 min read
Europe Commercial Property Update Further falls in euro-zone industrial rental values are likely The fact that the euro-zone industrial recovery appears to be losing momentum does not bode well for industrial occupier demand or rental values across the region. As such, our forecasts that falls in... 14th September 2010 · 1 min read
UK Commercial Property Focus Beyond austerity: the long-run outlook for high street shops With the influence of supermarkets and internet retailing likely to grow, we think that a downward trend in real high street shop rents is possible over the long run, with real rents falling by 1% to... 13th September 2010 · 1 min read
Europe Commercial Property Update Prague vs. Warsaw: where are office market prospects brightest? The outlook for office occupier demand looks to be considerably stronger in Warsaw than in Prague. What’s more, completion volumes in Warsaw are finally beginning to slow, suggesting that the vacancy... 9th September 2010 · 1 min read
