Europe Commercial Property Update What’s in store for retail this year? An expected improvement in spending is encouraging for prime high streets this year. Nevertheless, with a growing share of retail turnover made online and city-based retail more vulnerable to remote... 10th January 2022 · 3 mins read
UK Commercial Property Update Returns to cool significantly in 2022 The performance of commercial property exceeded expectations in 2021, with a particularly strong contribution from the industrial sector. But we don’t think that this momentum will last into this year... 7th January 2022 · 3 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Dec.) The construction PMI declined last month to end the year on a negative note, more than erasing the gain made in November. Despite tentative signs that they are starting to ease, we expect labour and... 7th January 2022 · 2 mins read
US Commercial Property Update Key calls for US commercial real estate in 2022 The US economy is set to slow this year as elevated inflation and higher interest rates squeeze spending. Nevertheless, at the all-property level, we expect rental growth of around 3% y/y and NOI... 6th January 2022 · 4 mins read
Europe Commercial Property Update Our key calls for European property in 2022 We don’t expect slower near-term economic growth to derail the property upturn in 2022. Rather, we think that continued falls in property yields and a rebound in all-property rents will support... 6th January 2022 · 4 mins read
US Commercial Property Update Lessons from 2021 2021 proved a challenging year to forecast commercial property markets. Indeed, we underestimated the speed and size of the bounce back in performance, albeit by less than the consensus. But there are... 5th January 2022 · 3 mins read
Europe Commercial Property Update Which predictions did we get right in 2021? While office performance surprised on the upside and we could have been much bolder in our forecast for industrial yield falls, our other forecasts for 2021 proved to be broadly correct. 5th January 2022 · 3 mins read
UK Commercial Property Data Response Lending to commercial property (Nov.) Declines in lending for both standing property and new developments resulted in total net lending moving back into negative territory in November. The outlook is for credit conditions to remain tight... 4th January 2022 · 2 mins read
UK Commercial Property Update No Christmas cheer for shopping centres The recent sale of a 25% share of the Bluewater shopping centre has provided further evidence of the slump in retail values. And while there are signs that the worst of the correction may now be over... 24th December 2021 · 3 mins read
US Commercial Property Outlook Major Office Markets Outlook (Q4 2021) Our stronger national office forecast this quarter mean upgrades to all six major markets. The largest of those uplifts is in Boston, which has seen a sharp rise up the rankings and where we expect... 23rd December 2021 · 15 mins read
Europe Commercial Property Update Istanbul industrial rental growth to slow sharply Despite tight supply and the boost to demand from e-commerce, we think Turkey’s recent currency crisis will further weigh on Istanbul industrial rents and that rental growth will slow sharply after... 23rd December 2021 · 3 mins read
UK Commercial Property Update Hotel occupancy will continue to struggle in 2022 International travel restrictions and domestic containment measures have dealt the hotel sector a massive blow over the last two years. The outlook for the sector is more positive, but a slow... 22nd December 2021 · 3 mins read
Europe Commercial Property Update Diagnosing the opportunity in European life sciences The pandemic-driven boost in scientific research and development will support demand in the European life science sector, at least for the next few years. This bodes well for several markets we... 20th December 2021 · 3 mins read
US Housing Market Outlook Major Apartment Markets Outlook (Q4 2021) Apartment markets in major coastal cities underperformed the national average in 2021, as they were more heavily impacted by lockdowns and the move of some households to cheaper, sunbelt cities. But... 17th December 2021 · 8 mins read
Non-Euro Europe Commercial Property Outlook Emerging Europe: Retail to make a comeback in 2022 With the recovery running out of steam and the emergence of the Omicron variant posing a downside risk, the economic backdrop is likely to provide less support to the property recovery over the coming... 16th December 2021 · 18 mins read
Europe Commercial Property Update US to outperform in 2022 before rate rises curb returns The rapid bounce-back in the US economy along with still-loose monetary policy will drive continued strong performance in real estate in 2022, when we expect returns to exceed 12%. That would see the... 15th December 2021 · 3 mins read