US Commercial Property Office Metros Outlook Expect huge divergence in performance between metros We expect there will continue to be major divergence between the winning and losing metros. We think the major markets and tech-centric western markets will continue to fare poorly thanks to low... 19th December 2024 · 7 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Dec. 24) The fiscal loosening announced in October’s Budget means inflation and gilt yields are now set to be higher than previously expected over the next few years. That will limit yield compression, and the... 19th December 2024 · 1 min read
US Commercial Property Outlook Total returns to turn positive in 2025, but offices still weigh The backdrop to our new real estate forecasts is a small reduction in our GDP forecasts and higher level of interest rates than previously. This weighs on the outlook, and we have trimmed our total... 12th December 2024 · 20 mins read
Europe Commercial Property Outlook Rental growth the key driver of the property recovery The recovery in property values is underway. But we think it will be a weak one, even though several European central banks, including the ECB, are forecast to cut interest rates to a lower level than... 12th December 2024 · 27 mins read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q4 24) All-property values are down 18% from their mid-2022 peaks. And with appraisal-based cap rates still set to tick higher, we expect further small falls in values. That should take the peak-to-trough... 25th November 2024 · 1 min read
UK Commercial Property Outlook Budget measures to weaken property recovery The fiscal loosening announced in October’s Budget means inflation and gilt yields are now set to be higher than previously expected over the next few years. And with the spread of gilt yields over... 22nd November 2024 · 26 mins read
Europe Commercial Property Update Consensus still expect office rent slowdown, CE more upbeat The strength of prime office rent growth in Europe in recent years has surprised forecasters, however there is broad agreement that rental growth will slow next year. We share that view, but are less... 14th November 2024 · 4 mins read
US Commercial Property Update Q3 RICS survey suggests market has bottomed The Q3 RICS commercial property survey suggests a recovery is on its way with improvements in both the occupier and investment market headline balances and the majority of respondents believing the... 31st October 2024 · 3 mins read
Europe Commercial Property Update Q3 RICS: Weak occupier demand a risk to recovery The latest RICS survey showed that investor sentiment continued to improve in Europe in Q3, adding to the growing evidence that the market has bottomed. However, declines in reported occupier demand... 31st October 2024 · 4 mins read
Global Commercial Property Chart Pack Global Commercial Property Chartpack (Q3 2024) All-property values have stabilised in the UK but we expect further falls elsewhere, especially in the US. Combined with a weaker office outlook, the US is set to underperform over the next couple of... 2nd October 2024 · 0 mins read
Europe Commercial Property Outlook Industrial to outperform as muted recovery gets underway After two disappointing years, commercial property values have stabilised. However, the recovery is set to be weak. We think yield falls in the coming years will be small compared to previous... 23rd September 2024 · 28 mins read
US Commercial Property Office Metros Outlook Houston rockets to the top of the office rankings Offices are still in for a tough few years, with markets like San Francisco, LA and Seattle likely to come out of the downturn with values down 55% or more from their 2019 peaks. However, there are... 20th September 2024 · 7 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Sep. 24) Yields have now peaked in most sectors and capital values are close to bottoming out. However, with not much prospect for yield compression the recovery will be weak by past standards. Thanks to... 19th September 2024 · 1 min read
UK Commercial Property Update Will remote work go into reverse? We doubt the announcement by Amazon that it is requiring office-based workers to return full-time marks the start of a reversal in the remote work share. It is far from clear that requiring five days... 18th September 2024 · 4 mins read
Europe Commercial Property Focus Regional divide in euro-zone office yield outlook Taking stock of euro-zone office yields after their recent stabilisation reveals a convergence across the region, with spreads between the northern markets and the historically higher-risk southern... 17th September 2024 · 15 mins read
US Commercial Property Outlook Apartments to top the charts with total returns of 9.5% p.a. There are tentative signs of improvement in the investment market, but we continue to think refinancing requirements will weigh on transactions. We still think appraisal-based valuations need to... 12th September 2024 · 21 mins read
