US Commercial Property Focus How pandemic changes will affect US metros Americans are returning to cities, but the return to the office has been much slower. We see suburban areas being net winners in the residential and retail sectors, although the picture for downtown... 22nd October 2021 · 18 mins read
UK Commercial Property Update Online risks to retail may not be as bad as once feared By any standard, retail property has had a torrid time during the pandemic. The latest data on online sales look like further bad news, with the share of spending much higher than expected after... 21st October 2021 · 3 mins read
Europe Commercial Property Update Warsaw retail rents to recover but not surge After a fall this year, we expect Warsaw retail rents to return to growth in 2022. That said, the city’s reliance on office workers means that the shift to remote working will weigh on retail spending... 21st October 2021 · 3 mins read
Europe Commercial Property Update Near-term upgrades to German office rental growth Prime office rental growth in Germany is on track to be stronger than forecast in the near term. However, we think rental growth will slow in the coming years as the supply of modern space is expected... 20th October 2021 · 3 mins read
US Commercial Property Update Downtown offices not losing out everywhere National office data suggest that suburban office markets have significantly outperformed downtown offices since the onset of the pandemic. But metro-level data point to a more nuanced picture in... 18th October 2021 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Sep.) Outstanding real estate debt increased for the fourth consecutive month in September, thanks to net lending turning a corner in the residential sector and accelerating in the commercial sector. 15th October 2021 · 2 mins read
UK Commercial Property Update Will COVID-19 shift real estate out of town? With workers spending more time away from city centres, some expected that out-of-town offices could swing back into fashion. It is still early, but from the UK data, the evidence suggests that it is... 15th October 2021 · 3 mins read
Europe Commercial Property Update Why are prime industrial rental values not taking off? Despite strong demand, we think that high capital values have kept development profitable and have prevented an acceleration in euro-zone prime industrial rental value growth. However, as capital... 15th October 2021 · 3 mins read
Europe Commercial Property Update Wider market confirms recovery in prime data The latest MSCI data show that the wider market has moved roughly in line with our prime data since the onset of the pandemic and provide support to our outlook for property values. 14th October 2021 · 3 mins read
US Commercial Property Update Four likely winners in retail The retail sector appears to be turning a corner, and we think that convenience-oriented Neighbourhood and Community (N&C) centres, out-of-town retail, “destination”-type malls and retail located in... 8th October 2021 · 3 mins read
Europe Commercial Property Update CEE investment recovery to pick up from 2022 We think a greater reliance on foreign capital and tighter monetary conditions will leave CEE investment activity lagging the euro-zone in H2. Overall, transactions are set to end the year 5% lower... 8th October 2021 · 2 mins read
UK Commercial Property Update What do the latest UK jobs data tell us? UK employment has recovered strongly in recent quarters and is set to see further growth into 2022. This will be good news for UK offices, especially in regional cities. But with occupiers set to look... 7th October 2021 · 3 mins read
Europe Commercial Property Update Did Europeans leave cities (and have they returned)? The pandemic and widespread use of remote working appeared to entice some Europeans to leave cities last year. However, the recent improvement in city mobility adds evidence to our view that this... 7th October 2021 · 3 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Sep.) The further drop in the construction PMI in September suggested that the recovery in construction has faltered amid a severe lack of materials and staff, spiralling costs, and softening demand. 6th October 2021 · 2 mins read
US Commercial Property Update Will remote working migrants drive office demand? In-migration to southern metros with relatively low living costs and high desirability will be positive for office demand in those same metros. We think firms will be encouraged to set up offices in... 4th October 2021 · 3 mins read
US Housing Market Outlook Major Apartment Markets Outlook (Q3 2021) The apartment market is set for a stellar year. The reopening of cities is bringing vacancy rates down and pushing rents up, and strong investor demand has led to a sharp fall in yields. We expect... 1st October 2021 · 8 mins read
