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
Nordic & Swiss Central Bank Watch Riksbank happy to bide its time next week The Riksbank is all but certain to leave its repo rate on hold next Tuesday (27th April), and will stick to the plan to spend the entire SEK 700 billion asset purchase envelope by the end of the year... 20th April 2021 · 5 mins read
Nordic & Swiss Economic Outlook Still running ahead of the pack As elsewhere in mainland Europe, the slow vaccine rollout means that the rebound in domestic activity is unlikely to get underway in earnest until Q3. Denmark is a noteworthy exception; its... 16th April 2021 · 13 mins read
Nordic & Swiss Economics Weekly No AZ jabs please, we’re Danish The tide has turned against the AstraZeneca vaccine in Denmark and Norway and fewer available vaccine doses could delay the rollouts in the Nordics, potentially by several months. At this stage, we... 16th April 2021 · 4 mins read
Nordic & Swiss Chart Pack Rotation trade to resume and to drag the franc lower The partial unwinding in the reflation trade in recent weeks has stopped the decline in the Swiss franc in its tracks. Having depreciated against both the US dollar and the euro since the start of... 14th April 2021 · 5 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
Nordic & Swiss Economics Weekly Switzerland gets a clean report card from the IMF The support voiced by the IMF for the SNB’s policies following the latest Article IV consultation with Switzerland provides further cover, if needed, for the Bank to push back against accusations of... 9th April 2021 · 5 mins read
Europe Commercial Property Update Where is there scope for conversions to residential? Few office or retail markets currently look economically viable for residential conversions. However, expected falls in values, particularly for retail, and acute housing shortages suggest that there... 9th April 2021 · 3 mins read
Energy Update Weaker European demand won’t derail our oil forecast While we have revised down our oil price forecast for Q2 and Q3 this year in response to the OPEC+ decision to ease production cuts, we still think a rebound in global demand will help push oil prices... 8th 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
Europe Commercial Property Update Southern European underperformance to continue Despite a more supportive outlook for property valuations, we think that weaker rental prospects will result in southern European property markets continuing to underperform into 2022. 30th March 2021 · 3 mins read
Energy Update Five key questions on the EU’s carbon border tax Later this year, the European Commission is expected to provide draft details on how the EU will introduce and implement a carbon border adjustment mechanism (CBAM, often dubbed a ‘carbon border tax’)... 26th March 2021 · 5 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: No rise in all-property values in 2021 The Swiss and Scandinavian economies and their property markets are likely to weather the pandemic better than many others in Western Europe. We expect all-property values in the region to hold steady... 25th March 2021 · 18 mins read
Europe Economics Update Greece: easing no game changer, yet The easing of virus restrictions in Greece this week – despite rising case numbers – is unlikely to change the picture for Q1; the economy probably contracted. Moreover, if it leads to a faster spread... 23rd March 2021 · 3 mins read
Europe Commercial Property Are data centres a viable alternative? Thanks to changing consumption patterns and structural and cyclical knocks to the traditional property sectors, both occupier and investor demand for data centres set new records last year. But, while... 19th March 2021 · 3 mins read
