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

UK Commercial Property Outlook

Look to beds, sheds and retail for best returns

Commercial property yields and capital values have stabilised in recent months, which has encouraged investors to dip their toes back into the sector. But the recovery is set to be a weak one...

22nd August 2024 · 26 mins read

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