US Commercial Property Data Response Commercial Property Lending (Jun.) Total debt secured against real estate nudged lower again in June. More timely weekly data point to signs that residential lending has already begun to grow again as housing demand has surged, but we... 10th July 2020 · 2 mins read
US Commercial Property Update CMBS bondholders face mounting risks CMBS delinquencies have risen sharply in recent months, yet we aren’t expecting a repeat of the real estate debt meltdown witnessed in the GFC. However, non-performing loan rates are especially high... 8th July 2020 · 3 mins read
Europe Commercial Property Update Athens retail: best of a bad bunch While the quicker than anticipated pick-up in high frequency data has meant that the fall in Greek economic activity is likely smaller than initially feared, retail rents are still set to drop sharply... 3rd July 2020 · 3 mins read
US Commercial Property Outlook Major Office Markets Outlook (Q2 2020) With the largest fall in occupier demand expected in New York City and San Francisco, and completions staying relatively strong in Los Angeles and SF, we expect these cities to see the largest rental... 26th June 2020 · 8 mins read
UK Commercial Property Update Are forecasters now too pessimistic about retail rents? The latest IPF Consensus Forecasts revealed sharper than expected downgrades for the next few years, largely based on revisions to retail rents. Our views are now above this consensus, though we don’t... 12th June 2020 · 3 mins read
Europe Commercial Property Update How has office output fared? Even though working from home has meant business as usual for many office occupiers, weak activity elsewhere has still caused euro-zone office output to fall. With the economic recovery expected to be... 11th June 2020 · 3 mins read
Europe Commercial Property Update Scandi offices to prove more resilient than euro-zone Timely activity indicators suggest that the Scandinavian economies are already on the gradual path to normality, which will provide support to occupier demand and, in turn, prime office rents this... 10th June 2020 · 3 mins read
UK Commercial Property Update Rise in Central London vacancy to hurt office rents A reasonable proportion of the Central London office completions for this year are likely to be pushed into 2021, but a fall in employment will hit demand for office space and lead to a pick-up in... 9th June 2020 · 3 mins read
Europe Commercial Property Update Crash in cross-border flows to hit southern Europe hard Markets that are most reliant on international capital will inevitably bear the brunt of the collapse in cross-border flows as investors remain very cautious in the face of COVID-19-related... 2nd June 2020 · 3 mins read
US Commercial Property Update ULI Consensus Forecast (Spring 2020) Forecasts for all indicators in 2020 have shown a marked deterioration since the interim year-end 2019 forecast published in January. While the consensus sector ranking is in line with our March... 21st May 2020 · 2 mins read
Europe Commercial Property Focus Which retail markets are most exposed to COVID-19? Before the virus outbreak, falls in prime retail rents were expected to be concentrated in Northern European markets. Now rental falls are likely to spread throughout Southern and Central Eastern... 14th May 2020 · 12 mins read
US Commercial Property Update Office rent growth outlook downgraded Our initial expectations that office landlords would see only a limited and short-lived fall in occupier demand have given way to a growing likelihood of a more adverse outlook. We have therefore... 13th May 2020 · 3 mins read
Europe Commercial Property Update Impact of WFH on European office demand Data from Europe suggest that the relationship between working from home and office space per worker is weak. And even if working from home becomes more prevalent in the next few years, we think that... 11th May 2020 · 3 mins read
Europe Commercial Property Update Gradual recovery will drag on the retail sector The lack of clear movement in the Q1 commercial property data has put other indicators into focus. These paint a much bleaker picture, particularly for the retail sector. 7th May 2020 · 4 mins read
Europe Commercial Property Update German offices likely to outperform rest of euro-zone As Germany cautiously eases its lockdown, despite the significant hit to economic activity, the tight supply picture should help support prime office rents across the four main cities this year. 1st May 2020 · 3 mins read
Europe Commercial Property Update Investor sentiment turns sour Despite reasonable levels of capital ready to invest and an expected loosening in credit conditions, the sharp deterioration in investor sentiment reinforces our view that euro-zone investment... 30th April 2020 · 3 mins read
