Europe Commercial Property Update More competition a risk to flexible office activity While longer-term drivers are supportive of flexible offices, we think demand for space will be held back by the slow return of workers to the office, by more competition from home offices and by high... 20th July 2021 · 3 mins read
US Commercial Property Update Lower Treasury yield forecasts support property pricing We have pulled back our expectations for Treasury yield rises this year and, to a lesser extent, next year. At the margin, this is positive for real estate pricing as it means that the property to... 16th July 2021 · 3 mins read
Europe Commercial Property Is our weak outlook for Lisbon office rents justified? The slow economic recovery, more remote working and a high supply pipeline are key reasons for our below-consensus forecasts for prime office rental growth in Lisbon in the coming years. 16th July 2021 · 3 mins read
US Housing Home sales to ease even as mortgage rates stay low Even as mortgage rates have remained low, housing market activity has dropped back as booming house prices, tight credit conditions and a lack of inventory have put off buyers. We expect that dynamic... 15th July 2021 · 17 mins read
Europe Commercial Property Update High construction costs unlikely to curb 2021 supply With price pressures in the construction sector likely to prove transitory, we think that the hit to activity will be small. That said, we expect construction activity to slow over the coming years on... 14th July 2021 · 3 mins read
US Housing Market Update Bounce in high-rise demand to give way to gardens There is mounting evidence that the exodus from cities is winding down. As economies reopen, we think that cities will come back to life, bringing a wave of new demand for high-rise apartments. But... 9th July 2021 · 3 mins read
US Commercial Property Update Life science hubs set for a period of outperformance The pandemic has accelerated growth in scientific research and development, prompting a boost to demand in key R&D clusters. While we don’t expect the current rates of growth to be sustained, we think... 8th July 2021 · 3 mins read
Europe Commercial Property Update CEE office occupier activity past the worst Despite poor employment prospects, we are cautiously optimistic on the outlook for CEE leasing activity as the economic recovery gets underway. However, large supply pipelines mean that improving... 8th July 2021 · 3 mins read
UK Commercial Property Update South East office rents still have further to fall Although we expect the economic outlook will continue to improve, we think that South East office rents will still edge lower this year. What’s more, we don’t expect much of a rebound in 2022, as a... 7th July 2021 · 3 mins read
Europe Commercial Property Update Has Athens been pushed off track by COVID-19? After gaining ground since 2018, the recovery in Athens’ prime property values has stalled. However, we think that the catch up with the euro-zone will continue, albeit at a slower pace than in recent... 6th July 2021 · 3 mins read
UK Commercial Property Update Office markets to shrug off end of furlough The government’s furlough scheme is regarded as one of the successes of the UK’s coronavirus policy response, but all good things must come to an end. Over the next few months, its unwinding will... 2nd July 2021 · 3 mins read
Europe Commercial Property Update Vaccine passport no silver bullet for prime high streets Lingering restrictions on travel mean that weakness in foreign tourist spending will continue to weigh on retailers’ incomes in tourist-dependent retail markets this year. This supports our view that... 1st July 2021 · 3 mins read
US Commercial Property Data Response US Metro Employment (May.) Employment growth in May was positive in all metros, largely driven by gains in the leisure & hospitality sector. This benefited Orlando, Los Angeles and Las Vegas the most, but still left employment... 30th June 2021 · 2 mins read
Europe Commercial Property Update Paris offices to maintain lead over Lyon Tighter supply conditions and the expected smaller hit from the shift to remote working mean that we think Paris office rents will continue to outperform Lyon over the next five years. 30th June 2021 · 3 mins read
US Housing Major Apartment Markets Outlook (Q2 2021) With cities reopening apartment demand will see a substantial rise this year, boosted by the arrival of households who delayed a move last year. Vacancy rates will fall back in all six major cities... 29th June 2021 · 8 mins read
UK Commercial Property Data Response Lending to commercial property (May.) After falling sharply in April, net lending rose in May. We think this can be explained by the extension of payment holidays rather than an increase in new loans. Further ahead, we expect a weak... 29th June 2021 · 2 mins read
