US Commercial Property Update What could the election mean for commercial property? While Joe Biden is currently favourite to win the election, we don’t think the winner’s identity will have a major effect on the economy. We also don’t expect it to substantially alter the prospects... 7th October 2020 · 3 mins read
US Commercial Property Outlook Major Office Markets Outlook (Q3 2020) Absorption is falling in all markets and vacancy is ticking higher, particularly in D.C. and San Francisco (SF). But more pain is to come, and we have significantly downgraded our forecasts for the... 2nd October 2020 · 8 mins read
US Commercial Property Update Hopes fading for a real estate bounce next year While we continue to think that this year’s property downturn will be milder than in past cycles, next year’s recovery is looking more fragile. This in part reflects revisions to our economic view... 1st October 2020 · 3 mins read
US Commercial Property Update Does COVID-19 mean the end of real estate’s bull run? Commercial property has outperformed both Treasuries and equities in the last two decades, but the fast-forward of structural change caused by COVID-19 will mean that in the next decade property is... 25th September 2020 · 3 mins read
US Commercial Property Update Remote working fatigue won’t derail long-run adoption Low utilisation of office space supports our expectations of weak short-term demand. And, despite some firms raising concerns over productivity as the current remote work “experiment” continues, there... 23rd September 2020 · 3 mins read
US Commercial Property Only industrial escapes downgrades While we expect the economic recovery to continue, there are downside risks in the next couple of years, particularly in the consumer sector. This will weigh on retail property, which we expect to be... 21st September 2020 · 23 mins read
Europe Commercial Property Outlook Slower recovery in values given weaker office outlook As widely expected, Q2 brought a range of disappointing data, from plunging investment volumes to further falls in retail rents. And while property values outside of retail have generally held up so... 18th September 2020 · 33 mins read
Europe Commercial Property Focus Remote working poses significant downside to rents As we have argued in our Global Property Focus, we think that some of the increase in remote working seen this year will become a permanent feature of working practices in office-based sectors in the... 14th September 2020 · 17 mins read
US Commercial Property Data Response Commercial Property Lending (Aug.) Total real estate debt held its ground in August, as a rise in commercial debt was offset by a drop in residential. The rise in the former can be explained by rent arrears, particularly in the retail... 11th September 2020 · 2 mins read
US Commercial Property Update When it comes to retail, bigger is no longer better Retail malls are set to fare badly in this downturn as Americans avoid enclosed spaces and adopt online shopping practices. But regional and super-regional malls, which were already underperforming... 28th August 2020 · 3 mins read
US Commercial Property Update Scenarios for the effect of remote working on US offices Given uncertainty around the level of adoption of remote-working, change in space allocated per worker and how large any reduction in supply might be, we provide a set of potential scenarios for the... 24th August 2020 · 3 mins read
US Commercial Property Valuation Monitor Valuations need to improve further to entice investors Property valuations improved substantially in Q2, on the back of a huge 120 bps drop in equities earnings yields. However, while the office, retail and apartment sectors look undervalued on our... 20th August 2020 · 7 mins read
US Commercial Property Data Response Commercial Property Lending (Jul.) July’s increase in real estate debt was mostly driven by residential loans, but commercial property debt also ticked higher. However, with investment totals weak in Q2, this could simply reflect the... 14th August 2020 · 2 mins read
UK Commercial Property Focus Remote working to hit office income by 20-25% 6th August 2020 · 25 mins read
