UK Commercial Property Update Effective City office rental values to continue to outperform Headline IPD City office rental values fell by less than the West End during the 2008/09 downturn. But effective rents in the City market actually fared much worse. Since the end of 2009, however... 9th September 2010 · 1 min read
Europe Commercial Property Update Interest rate rises unlikely to dampen Swedish property recovery The latest rise in Swedish interest rates may raise concerns that the nascent commercial property market recovery could slow. But that seems unlikely. For one thing, interest rates are still very low... 8th September 2010 · 1 min read
UK Commercial Property Data Response Mergers and Acquisitions Activity (Q2 10) The nascent recovery in mergers and acquisitions (M&A) activity involving UK firms appears to have stalled in Q2. Against the backdrop of subdued economic growth, M&A activity is likely to remain... 7th September 2010 · 1 min read
Europe Commercial Property Update Has the Spanish retail property market outlook improved? The increase in Spanish household spending in the first half of 2010 suggests that the outlook for Spanish retail property may be improving. However, we remain cautious. Among other things, with one... 3rd September 2010 · 1 min read
UK Commercial Property Data Response IPF Consensus Forecasts (August) Respondents to the IPF Consensus continue to anticipate that commercial property capital values will stabilise over the remainder of this year but will edge lower next year. The weakest forecast is... 3rd September 2010 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Aug 10) Today’s PMI suggested that growth in commercial construction sector activity continued to slow in August, hinting at growing concerns amongst developers about the prospects for economic growth and... 2nd September 2010 · 1 min read
Europe Commercial Property Update Time to be more positive on German retail property? Recent economic data suggest that the export-led recovery in Germany is spreading to domestic demand. However, there are reasons to remain cautious and our view remains that the scope for the German... 1st September 2010 · 1 min read
Europe Commercial Property Update Hungarian retail yield recovery may prove premature The recent sharp fall in Hungarian prime retail yields is encouraging. However, we suspect that the recovery may have got ahead of itself. In our view, the very weak consumer outlook and the potential... 25th August 2010 · 1 min read
UK Commercial Property Chart Pack The plateau for capital values has arrived (Sep 10) Data on the economy over the past month showed that the labour market continues to enjoy a rebound, with unemployment falling by about 50,000 over the past three months. However, we expect public... 25th August 2010 · 1 min read
Europe Commercial Property Update Underperformance of Czech Republic industrial yields is unlikely to last The fact that prime industrial yields in the Czech Republic are lagging the recovery in most of Emerging Europe does not square with the macro data. In addition, with prospects for rental value growth... 23rd August 2010 · 1 min read
UK Commercial Property Focus Effect of consumer austerity on high street shops investment We think that consumer spending will struggle to grow at all for at least the next two to three years. Taking the period 2010-14 as a whole, this will result in average total returns for high street... 23rd August 2010 · 1 min read
Europe Commercial Property Update Why are Dutch retail yields leading the euro-zone recovery? Boosted by the low level of unemployment and relatively attractive pricing, strong demand among large institutional investors has pushed prime retail yields down in the Netherlands more so than... 20th August 2010 · 1 min read
Europe Commercial Property Update Will Stockholm's prime office yield underperformance last? The recovery in Stockholm’s prime office yields may have got off to a late start, but we do not think their underperformance relative to the neighbouring Nordic markets of Copenhagen and Oslo will... 18th August 2010 · 1 min read
UK Commercial Property Data Response RICS Construction Survey (Q2 10) The latest RICS Construction Survey suggested that activity across the sector as whole dipped in Q2. Encouragingly, however, the slump in public sector construction activity was not mirrored in the... 18th August 2010 · 1 min read
UK Commercial Property Outlook Recovery is over, but fresh capital value falls are unlikely (Q3 10) Our medium-term forecasts are broadly unchanged from the previous Analyst. As we had expected, the recovery in commercial property capital values seems to have run out of steam. However, over the next... 16th August 2010 · 1 min read
Europe Commercial Property Update GDP data flatter the euro-zone occupier market outlook The surprisingly strong rise in euro-zone GDP in Q2 2010 is probably less supportive for occupier markets than it appears at first sight. For a start, the region remains vulnerable to a slowdown in... 13th August 2010 · 1 min read
