Yasemin Engin

Europe Commercial Property Update

CEE retail set for a harsh winter

The second virus wave in CEE came at a time when the region’s retail sector was already on its knees. We now expect the fall in rents to continue in Q4, albeit at a slower pace than in Q2.

5th November 2020 3 mins read

Europe Commercial Property Update

Oslo office rents at risk from increased remote working

Greater remote working looks set to be a legacy of the pandemic. However, given that working from home was already relatively prevalent in Sweden and Denmark, the scope for significant further rises...

30th October 2020 5 mins read

Europe Commercial Property Update

Upward pressure on Vienna office yields still likely

Depressed investment activity and a weak rental outlook are set to put upward pressure on office yields. That said, given that prime property values have been slower to adjust than we had initially...

22nd October 2020 3 mins read

Europe Commercial Property Update

Paris offices offer cold comfort

Even though lockdown restrictions had eased, office take-up in Paris in Q3 was still well below pre-virus levels. And the recent imposition of tighter restrictions in Paris will likely curtail leasing...

16th October 2020 3 mins read

Europe Commercial Property Update

Rebound in trade to boost industrial rents in ports

Despite the sharp drop in GDP, the relatively small fall in world trade has meant that industrial rents in port cities held up better than expected during H1. And we think that the ongoing recovery in...

1st October 2020 3 mins read

Non-Euro Europe Commercial Property Outlook

Scandi & Swiss: Virus seals dominance of industrials

Investment activity and rents have felt the impact of the virus, with the retail sector bearing the brunt. Indeed, after falling by around 2% this year, we think that Scandinavian retail rents will...

28th September 2020 18 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 Update

Retail rents downgraded in euro-zone and CEE

The falls recorded so far, most notably in the CEE region, coupled with our view that the initial recovery in retail sales in Europe has started to run out of steam, has prompted us to downgrade our...

10th September 2020 3 mins read

Europe Commercial Property Valuation Monitor

Improvement in valuations set to continue

The reversal in equity dividend yields following the virus-related market rout in March lead to a broad-based improvement in property valuations. (See Chart 1.) Coupled with central banks’ assurances...

3rd September 2020 7 mins read

Non-Euro Europe Commercial Property Chart Pack

Scandinavia & Switzerland: Retail not off the hook yet

Q2 data was a mixed bag as all markets recorded shifts in yields while only a handful of markets saw moves in rents. That said, Scandinavian investment activity took a significant hit in Q2, and...

24th August 2020 6 mins read

Europe Commercial Property Chart Pack

Retail property values move sharply lower

Investment and occupier demand plunged further in Q2. As expected, the retail sector bore the brunt of the impact, with capital values falling by almost 9% y/y. This drove down all-property capital...

19th August 2020 9 mins read

Europe Commercial Property Update

Yield compression still on the cards next year

With accommodative monetary policy anchoring bond yields, we think that yield compression in the euro-zone is set to resume next year. But the balance of risks have clearly changed post-virus.

13th August 2020 3 mins read

Europe Commercial Property Update

Is WFH a double-edged sword for Dutch offices?

A more favourable economic outlook should support occupier demand and thereby prime Dutch office rents over the next few years. And while the shift to more remote working poses a risk, we think that...

31st July 2020 3 mins read

Europe Commercial Property Update

Landlords better positioned this time

Although banks expect to tighten lending standards, we think that the underlying situation is much better than pre-GFC and that government schemes will continue to provide support, which should limit...

23rd July 2020 3 mins read

Europe Commercial Property Update

Better jobs picture will not spare office rents

Despite the apparent strength of the euro-zone labour market in early Q2 data and the office sector’s inherent resilience, we still expect prime rents to fall this year on the back of the weak economy...

16th July 2020 3 mins read

Europe Commercial Property Update

Scandinavian data set out roadmap for the euro-zone

The fact that there were signs of improvement in Scandinavian transactions in June provides some hope for the rest of Europe. But overall, commercial property investment will still face an uphill...

8th July 2020 3 mins read