Europe Commercial Property Update Chinese tourism drought will add to luxury retail woes In view of the wider interest, we are also sending this Europe Commercial Property Update to clients of our UK Commercial Property Service. With no end in sight to China’s zero-COVID policy, the... 30th September 2022 · 3 mins read
US Commercial Property Data Response US Metro Employment (Aug.) The greater number of metros seeing a decline in total jobs in August comes as little surprise given the slowdown in the national data this month. But for the major six metros and poorer performing... 28th September 2022 · 2 mins read
Europe Commercial Property Update Italian investment to drop back in the coming quarters While the market reaction to the Italian election was muted, we think that the worsening economic outlook and concerns about debt sustainability will result in increased risk aversion toward Italian... 28th September 2022 · 3 mins read
US Commercial Property Outlook Dallas offices set to lead the pack for rents and returns The overriding story this quarter is that although weak demand and steady inventory growth in the next couple of years will push up vacancy in many metros, we still see asking rents growing solidly as... 23rd September 2022 · 14 mins read
Non-Euro Europe Commercial Property Outlook Emerging Europe: Retail comeback delayed A further deterioration in the economic backdrop is set to weigh on property rental growth, especially in the consumer-facing retail sector where we have revised down our rental forecasts in the near... 23rd September 2022 · 19 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Property values set to fall in 2022-23 This email is being resent due to an error with the previous publication The latest data suggest that a property repricing is already underway in response to higher interest rates and stretched... 22nd September 2022 · 18 mins read
US Housing Market Outlook Phoenix knocked off top spot by southern markets We expect a sharp slowdown in apartment rental growth across the board, as job growth slows, affordability constraints bite and an influx of supply pushes up vacancy. But some markets will perform... 16th September 2022 · 15 mins read
Europe Commercial Property Outlook Mild correction, but soaring inflation poses downside risks The economic backdrop has deteriorated, with the euro-zone set to enter recession this year, while inflation has continued to beat expectations. This will weigh on property demand across all sectors... 16th September 2022 · 33 mins read
UK Commercial Property Update Supermarkets one winner from cost-of-living crisis After reaching close to a record high at the start of 2021, the gap between supermarket and all-retail equivalent yields has since fallen back to its pre-COVID-19 level. That is likely to reflect the... 16th September 2022 · 3 mins read
US Commercial Property Update Which apartment markets look most overvalued? A forward-looking fair value analysis of the 17 apartment metros that we forecast suggests that Phoenix and the Western markets look most overvalued. This insight underpins the changes to our yield... 14th September 2022 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Aug.) CRE lending saw an even stronger rise in August than in July, with multifamily and other commercial sectors both seeing a large increase in outstanding debt. But there are signs that the rate of... 12th September 2022 · 2 mins read
US Commercial Property Outlook Price correction to prove relatively small this time around Higher interest rates mean that real estate looks significantly overpriced in all sectors. The latest activity and performance data suggest that a correction is underway, but as we now think the 10... 9th September 2022 · 25 mins read
Europe Commercial Property Update Renewed weakness ahead for German retail The rapidly worsening economic backdrop has put the brakes on Germany’s prime retail recovery. After showing strength in the second half of last year, take-up has now slowed in most of the main... 9th September 2022 · 3 mins read
UK Commercial Property Update Boom in hybrid working to delay office demand impact Recent surveys suggest that our forecast that 50% of office employees will go into work every day is too high. But it also looks like the vast majority of those working from home will only do so part... 8th September 2022 · 3 mins read
UK Commercial Property Data Response IPF Consensus Forecasts (Aug.) The latest IPF Consensus Survey showed a significant downgrade for total returns in 2022 and 2023, as higher yields hit capital value forecasts. But with those hikes in yields now happening sooner... 7th September 2022 · 2 mins read
UK Commercial Property Data Response S&P Global/CIPS Construction PMI (Aug.) The surprise increase in the construction PMI is little cause for optimism given it was driven by the reversal of an idiosyncratic fall in civil engineering activity a month earlier. Indeed, the... 6th September 2022 · 2 mins read
