Europe Commercial Property Update Hawkish CEE policy shift to push up property yields Our expectation for more aggressive monetary tightening in Central and Eastern Europe and the subsequent upward pressure on bond yields mean that we now expect property yields to rise by more from... 7th June 2021 · 3 mins read
Non-Euro Europe Commercial Property Chart Pack Emerging Europe: Re-opening won’t stop values falling The fall in all-property rents, dragged down by office and retail sectors, meant that annual capital value growth remained in negative territory in Q1, despite the surprise fall in yields. Looking... 26th May 2021 · 6 mins read
Europe Commercial Property Chart Pack Competition for industrial assets bids down yields With the faster pace of vaccination paving the way for a rebound in economic activity, the prospects for occupier markets have improved. However, structural changes mean that the recovery in the... 20th May 2021 · 9 mins read
Europe Commercial Property Update Flight to quality in Barcelona offices to be short-lived Last year, rents held up better in Barcelona’s CBD, and we expect this trend to continue this year. That said, higher rents in the CBD mean that they are also likely to be hit harder from the shift to... 13th May 2021 · 3 mins read
Europe Commercial Property Update Prague industrial rents to keep growing this year Following stronger than expected Q1 data, we have revised up our rental forecast for 2021. And Prague’s low costs and constrained supply means that we think rental growth has further to go this year. 6th May 2021 · 3 mins read
Europe Commercial Property Update Vienna office rental growth on hold until 2022 The poor near-term economic backdrop means that occupier activity will remain weak this year. But we think that the tightness in supply will prevent office rents from falling and support rental growth... 28th April 2021 · 3 mins read
Europe Commercial Property Update Antwerp retail to extend lead over Brussels With retailers in Belgium set to remain under pressure due to shifts in spending, we think that prime high street rents will extend their falls this year. And with e-commerce remaining a dark cloud... 21st April 2021 · 3 mins read
Europe Commercial Property Update Supply surge to extend Dublin offices’ unlucky streak Initial demand indicators support our view of further falls in Dublin office rents this year. And with construction on hold, spill overs from delayed completions could threaten the rental recovery. 14th April 2021 · 3 mins read
Europe Commercial Property Update Budapest retail set to outperform CEE after 2021 After declining in 2021, we think that favourable supply conditions and a rebound in consumer spending will support a recovery in Budapest retail rents into next year. And while the sharp increase in... 8th April 2021 · 3 mins read
Europe Commercial Property Update Cross-border capital recovery to prove slow in 2021 Travel restrictions will hold back cross-border capital flows until at least H2. And given that we expect extra-European capital to return particularly slowly, total investment is set to recover... 1st April 2021 · 3 mins read
Non-Euro Europe Commercial Property Outlook Emerging Europe: Less than stellar recovery in values Following a year marked with sharp falls in retail rents and rising retail and office yields, the next few months for property values will continue to be dismal. We have pencilled in another drop in... 26th March 2021 · 19 mins read
Europe Commercial Property Outlook Pandemic hit mild by past standards, but recovery slow Euro-zone prime property will likely get off more mildly than many expected at the start of the pandemic. We forecast another small fall in all-property capital values this year, with yields holding... 18th March 2021 · 31 mins read
Europe Commercial Property Focus Estimating the natural vacancy rate in European offices Given that the natural vacancy rate (NVR) provides a better gauge of office market conditions than the absolute vacancy rate, we set out to estimate the NVR across European office markets. Future... 11th March 2021 · 17 mins read
Europe Commercial Property Valuation Monitor Outlook for property valuations still supportive With bond and equity dividend yields trending lower, valuations improved in Q4 for offices and retail, while they held steady for industrial. But in Q1, given the recent bond market rout, valuations... 8th March 2021 · 7 mins read
Non-Euro Europe Commercial Property Chart Pack Emerging Europe: Further pain in store for retail While virus restrictions have weighed on retail markets across Europe, the hit has been particularly severe in CEE. Indeed, core-CEE prime retail rents fell by an eye-watering 20% last year, the... 23rd February 2021 · 6 mins read
Europe Commercial Property Chart Pack Pandemic widens sectoral divergences Despite the sharp hit to economic activity, euro-zone prime commercial property values were comparatively unscathed last year, falling by just 2%. However, this hides large differences in performance... 16th February 2021 · 10 mins read
