UK Commercial Property Update What does sterling’s fall mean for hotels and central London retail? Some commentators have touted the recent fall in sterling as a ray of light for hotels and central London retail. However, we think that any uplift to occupier markets will be modest, as the... 30th August 2016 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Industrial rents in Emerging Europe stabilise Stronger economic growth in Q2 helped to prevent further falls in the majority of prime retail and industrial rents across the central and eastern European region. Rents may, therefore, have found a... 26th August 2016 · 1 min read
Europe Commercial Property Chart Pack Office rental growth hits post crisis high All-property euro-zone rental values increased by 0.9% q/q in Q2, up from 0.4% q/q in Q1, as office rents rose at the fastest quarterly rate since the financial crisis. At the same time, yields fell... 26th August 2016 · 1 min read
UK Commercial Property Chart Pack Some positive signs from occupier markets The fall in the exchange rate as well as policy makers’ response to the referendum result have helped property look more attractive relative to gilts and equities. Thus, if we are right in thinking... 25th August 2016 · 1 min read
Europe Commercial Property Valuation Monitor Lower bond yields counteract falling property yields Property yields fell again in Q2 as demand for prime property remained strong. But, with mostbond yields falling in the second quarter, property still looks fairly valued. 19th August 2016 · 1 min read
UK Commercial Property Outlook Fundamentals will conquer short-term fears We have cut our forecasts for UK Commercial Property since our previous Analyst to reflect the heightened uncertainty resulting from the vote to leave the EU. In addition to penciling in a modest rise... 19th August 2016 · 1 min read
Europe Commercial Property Update Should investors be concerned about Lisbon property? With Lisbon office and retail valuations looking increasingly stretched, and periodic spikes in Portuguese government bond yields, the risks to property market pricing appear to be on the rise. 17th August 2016 · 1 min read
UK Commercial Property Data Response Employment (Jun.) Employment growth was strong in the three months before the referendum. Even so, there are good reasons why rental value growth is likely to slow further in the second half of the year. 17th August 2016 · 1 min read
UK Commercial Property Update What can financial market volatility tell us about pricing? Equity market volatility can be a proxy for economic uncertainty which, in turn, should anticipate movements in all-property yields. This relationship suggests that, given the heightened uncertainty... 16th August 2016 · 1 min read
UK Commercial Property Update How vulnerable are rents to an economic downturn? Relative to their past peaks and underlying trends, rents are only worryingly high in London’s retail market. While that would not prevent large falls if the economy were to suffer a full-blown... 12th August 2016 · 1 min read
Europe Commercial Property Update Moscow property about to turn a corner, albeit, slowly The acute phase of Russia’s latest economic crisis now appears to be behind it. However, the prospect of only a weak economic recovery means that a strong rebound of the Moscow commercial property... 11th August 2016 · 1 min read
UK Commercial Property Data Response Commercial property investment (Jul.) Unsurprisingly, on the back of the UK’s vote to leave the EU, commercial property transaction activity fell sharply in July. That said, with no signs of an exodus from London, and overseas investors... 10th August 2016 · 1 min read
Europe Commercial Property Update Turkey’s failed coup adds pressure for retail rents to fall With heightened uncertainty stemming from last month’s failed coup attempt in Turkey, a slowdown in economic growth and further weakness in the lira will put downward pressure on prime Istanbul retail... 4th August 2016 · 1 min read
UK Commercial Property Update Could monetary policy prop up capital values? As expected, the MPC today voted to cut Bank Rate by 25bps to 0.25% and to restart its asset purchase programme. This should underpin the recent movements in sterling, gilt yields, and equities, and... 4th August 2016 · 1 min read
Europe Commercial Property Update Paris offices shrug off France’s wider economic woes French GDP growth slowed markedly in Q2 and is set to be anaemic over the next few years. But, H1 2016 has seen a surge in office investment activity in La Défense, reflecting growing confidence in... 2nd August 2016 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Jul.) Today’s commercial construction PMI added to the evidence showing how negative sentiment towards the commercial property sector has become. However, if we are right that the economy will avoid a... 2nd August 2016 · 1 min read
