Europe Commercial Property Valuation Monitor

Europe Commercial Property Valuation Monitor (Q3 2024)

Commercial property valuations worsened slightly in Q2 across all sectors as bond yields rose while property yields held steady. However, the decline in government bond yields so far in Q3 means...

20th August 2024 · 0 mins read

US Commercial Property Chart Pack

US Commercial Property Chart Pack (Q3 24)

While investment has tentatively turned a corner, subdued activity and further rises in cap rates mean 2024 will still be a tough year. All-property values are down by 18% from their mid-2022 peaks...

14th August 2024 · 1 min read

Europe Commercial Property Update

Office utilisation rising but space cutting to drag on

European office occupier surveys reveal that office attendance and utilisation has continued to rise over the past year and that it could still improve a bit further. However, despite the rise in...

12th August 2024 · 3 mins read

US Commercial Property Update

Diverse occupier base to support Southern office demand

After an already-tough H1 for information sector jobs, we expect the second half of the year to see further cuts, which will be bad news for tech-heavy metros in the West. But a more diverse occupier...

8th August 2024 · 4 mins read

Europe Commercial Property Update

Office conversion proceeding faster than expected

We have been sceptical of the viability of conversion of excess office space into residential units. But the latest figures indicate that, despite marginal financials, there may have been more...

1st August 2024 · 6 mins read

Europe Commercial Property Update

CBD shift clearest in the largest office markets

At the end of the pandemic, there was a view that remote working would drive a wedge between CBD and other submarket rents. The evidence of this remains uneven. But in some cities, notably Paris and...

31st July 2024 · 3 mins read

US Commercial Property Update

Industrial sentiment worsens in Q2 RICS survey

While headline balances saw little movement, digging deeper the Q2 RICS survey shows a reversal of last quarter’s more positive outlook. Indeed, respondents seem more downbeat, with almost half now...

25th July 2024 · 6 mins read

Europe Commercial Property Update

RICS survey sours on France, turns upbeat on values

The Q2 RICS survey showed that sentiment toward offices is improving – occupier demand balances saw the largest sectoral rise and rent and value growth expectations were raised. With year-ahead...

25th July 2024 · 4 mins read

UK Commercial Property Update

Do the latest job figures hint at weaker office rents?

UK employment has faltered of late and, though growth is expected to improve, no return to the buoyancy of the recent past is in prospect. While headcount has become a weaker indicator of office...

10th July 2024 · 3 mins read

Global Commercial Property Chart Pack

Global Commercial Property Chartpack

The slower adjustment to past rises in interest rates and a sharper hit to office demand is set to weigh on US property returns over the next couple of years. Overall, the UK is set to outperform over...

3rd July 2024 · 1 min read

Europe Commercial Property Update

Benelux prime office rent outperformance to wane

A soft start to 2024 for office demand and weak jobs outlook in Benelux suggest that recent rental outperformance will not last. With supply also rising, we think prime rental growth will slow to...

27th June 2024 · 3 mins read

Europe Commercial Property Update

Munich office rent boom has further to go, Berlin trails

We are generally pessimistic about the rental outlook in Germany, however, this conceals large variance across cities – most notably for offices between leader Munich and laggard Berlin. Munich prime...

25th June 2024 · 3 mins read

US Commercial Property Office Metros Outlook

Southern metros set to outperform

The office sector faces another two years of value falls, led down by Seattle and San Francisco, where cumulative declines will be around 25%-30%. But our latest forecasts highlight the brighter spots...

20th June 2024 · 7 mins read

US Commercial Property Update

Downtowns will recover, but not any time soon

The gap between downtown and suburban office vacancy rates has widened alarmingly since 2020. This reflects pandemic-driven changes to working patterns, exacerbated by the cyclical slowdown. In our...

18th June 2024 · 3 mins read

UK Commercial Property Update

London office starts spell trouble for non-prime space

The latest Crane Survey reported that a record high 16.4m sq. ft. of London office space was under construction in Q1. That in part reflects developers delaying projects until the demand outlook...

13th June 2024 · 3 mins read