Europe Commercial Property Update Are office rental values more vulnerable in Madrid than Barcelona? Many of the recent occupier market signals suggest that the outlook for Madrid office markets is marginally better than in Barcelona. Yet, if Spain continues to shed jobs this year as we expect, an... 22nd March 2011 · 1 min read
Europe Economics Update Has Spain won over the markets for good? There have recently been signs that Spain may be starting to persuade the markets that it is not in as dire a position as some of the other peripheral economies. While this provides some hope that the... 22nd February 2011 · 1 min read
Europe Data Response Spanish GDP (Q4) Spain’s final Q4 GDP release confirmed that the economy outperformed its southern European counterparts at the end of last year. But we still think that Spain is set for a pretty tough 2011. Indeed... 16th February 2011 · 1 min read
Europe Commercial Property Update Spanish industrial rental downturn has further to run The latest macro indicators for Spain paint a weak picture of industrial occupier demand. Unfortunately, our view that the economy will tip back into recession this year suggests that high levels of... 7th February 2011 · 1 min read
Europe Economics Update Spanish bank plans unlikely to be a game changer News that the Spanish Government will force the troubled banks to boost their capital ratios is an encouraging sign that it is trying to tackle the economy’s fundamental problems. But we doubt that... 25th January 2011 · 1 min read
Europe Economics Update Will Spain be the undoing of the euro-zone? With Ireland finally accepting a bailout, attention has turned to who might be next. Spain’s position is far less precarious, but there are some worrying similarities. And given the economy’s size... 23rd November 2010 · 1 min read
Europe Data Response Spanish GDP (Q3) The Spanish GDP figures confirmed that the economy narrowly avoided re-entering recession in Q3. But with the full force of the fiscal squeeze yet to be felt and global demand set to slow, it may not... 17th November 2010 · 1 min read
Europe Economics Update Risk of a Spanish double-dip continues to grow The latest composite PMI business survey figures have added to evidence that the Spanish economy may have re-entered recession. This supports our view that Spain is set for a prolonged period of... 5th October 2010 · 1 min read
Europe Economics Update Spain not yet out of the woods Despite the markets growing more pessimistic about the prospects for Ireland and Portugal, bond yields in Spain have remained relatively stable, suggesting that concerns about its public finances have... 22nd September 2010 · 1 min read
Europe Data Response German Industrial Production & Trade & Spanish Ind. Prod. (Jul.) The latest German industrial and trade data add to evidence that the recoveries in these sectors are beginning to lose momentum. Nonetheless, Germany looks set to remain the euro-zone’s main engine of... 8th September 2010 · 1 min read
Europe Commercial Property Update Has the Spanish retail property market outlook improved? The increase in Spanish household spending in the first half of 2010 suggests that the outlook for Spanish retail property may be improving. However, we remain cautious. Among other things, with one... 3rd September 2010 · 1 min read
Europe Data Response Spanish GDP (Q2) The latest Spanish GDP figures confirmed that the economy continued its modest revival in Q2. But with the full effects of the fiscal squeeze yet to be felt and global demand set to slow, the recovery... 26th August 2010 · 1 min read
Europe Economics Focus Can Spain take the pain? Markets may have become more confident that Spain can get its public finances under control. But if Spain is to restore external balance within the euro-zone, it may have to accept a decade of... 25th August 2010 · 1 min read
Europe Commercial Property Update World Cup triumph does not improve the Spanish retail outlook While it is not unreasonable to suggest the Spanish retail property market could be boosted by the national team’s World Cup success, unfortunately we think other factors will continue to provide far... 12th July 2010 · 1 min read
Europe Commercial Property Update Recovery in Spanish retail rental values is a distant prospect Following the plunge in May, June’s small rise in Spanish consumer confidence does little to improve the outlook for the Spanish retail property market. Indeed, with retail sales volumes unlikely to... 6th July 2010 · 1 min read
Europe Economics Update Spain faces an uphill battle to ease markets’ fears The latest ratings downgrade of Spanish Government debt has triggered a new wave of concern in the markets. While Spain’s problems are far less acute than those of Greece, the Government still faces a... 3rd June 2010 · 1 min read
