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

Europe Commercial Property Update

Milan office rent growth to undershoot the euro-zone

Milan office take-up has held up well in recent quarters, but this has not translated into stronger prime rental growth. With the outlook for jobs growth pointing to a slowdown in take-up while...

11th September 2024 · 3 mins read

UK Commercial Property Update

IPF Consensus Forecasts (Sep 24.)

The latest IPF Consensus Survey showed forecasters are finally coming around to our long-held view that retail will preform relatively well over the next five years. Total returns for all the retail...

6th September 2024 · 3 mins read

Europe Commercial Property Update

Prime office rent gains to beat consensus expectations

Prime office rents look set to rise by more than we had previously expected over the next few years given still low CBD vacancy, preferences for prime space and cuts to the supply pipeline in 2025-26...

29th August 2024 · 3 mins read

UK Commercial Property Update

Is the City of London bouncing back?

City offices have underperformed their West End neighbours by a wide margin since 2022. More encouraging recent data have led us to revise up our City rental projections, but we still expect stronger...

28th August 2024 · 3 mins read

Europe Commercial Property Chart Pack

Europe Commercial Property Chart Pack (Q3 2024)

A stabilisation of property yields and solid rent growth mean that euro-zone all-property values increased in Q2 for the first time in two years. However, market sentiment remains very weak and...

23rd August 2024 · 0 mins read