Europe Commercial Property Valuation Monitor Valuations continue to improve but remain stretched European property valuations continued to improve in Q1 on the back of further increases in property yields as well as falls in government bond yields. Nonetheless, all office and industrial markets... 31st May 2023 · 5 mins read
UK Commercial Property Outlook Dogged inflation means more yield rises to come Higher-than-expected core inflation means interest rates are now set to be higher for longer and we still think the economy will enter a mild recession later this year. That’s not a great backdrop for... 30th May 2023 · 24 mins read
Europe Commercial Property Chart Pack Scandinavia & Switzerland: Yield surge cools As in the euro-zone, the rise in prime property yields in Scandinavia slowed sharply in Q1 after the surge in H2 2022. Along with decent gains in rents, where Oslo offices and industrial saw the... 26th May 2023 · 6 mins read
US Commercial Property Chart Pack Portland, San Francisco and Seattle off to a bad start Metro level data for Q1 2023 showed the slowdown in occupier demand was widespread, with no market consistently outperforming across the sectors in terms of absorption. While office and industrial... 24th May 2023 · 6 mins read
US Commercial Property Chart Pack Weak Q1, but bigger price falls to come in Q2 The economy has been relatively resilient so far, but with the banking turmoil set to weigh on activity, we continue to expect a recession this year. Slower growth has already translated to softer... 19th May 2023 · 10 mins read
Europe Commercial Property Chart Pack Capital value falls slow, but further weakness ahead Capital value falls slowed in Q1 as the surge in euro-zone all-property yields cooled. But, with rent growth decelerating across all sectors, the increase in yields was still enough to drive another 4... 19th May 2023 · 10 mins read
Europe Commercial Property Update Brighter outlook for Paris office rents Although recent data suggest that Paris offices had a slow start to the year, we think this weakness will be short-lived. Indeed, with demand prospects looking favourable and new supply set to slow... 10th May 2023 · 3 mins read
Europe Commercial Property Update Resilient Stockholm office rents will falter before long Although rent growth has been resilient, as the Swedish economy enters recession and employment contracts, we think the recent slowdown in Stockholm office occupier demand will persist. And with new... 5th May 2023 · 3 mins read
Europe Commercial Property Update Strength of Berlin office rents won’t last Berlin offices have been outperforming those in other German markets for some time. But Q1 data suggest that growth has begun to falter, and we think that the recent strength of the market won’t last. 3rd May 2023 · 3 mins read
US Commercial Property Office Metros Outlook Western and big six metros set for 25%+ price falls We have made substantial downgrades to our metro-level forecasts this quarter. The outlook for office-based employment growth has been hit by tech sector struggles, weighing on demand in many western... 14th April 2023 · 14 mins read
Europe Commercial Property Update Structural weaknesses weigh on Warsaw office rents After a strong 2022, we expect Warsaw offices to face a more difficult time ahead. Falling employment and hybrid working practices will limit any revival in demand after 2023 and leave rents... 14th April 2023 · 3 mins read
US Commercial Property Outlook Office values set to tank over the next two years We have made substantial downgrades to our forecasts this quarter. Aside from their direct impact through tighter lending conditions, last month’s regional bank failures appear to be helping... 6th April 2023 · 23 mins read
UK Commercial Property Update London office capital values can’t deny gravity forever London office capital values fell by a relatively modest amount in the second half of last year and monthly data show values stabilised in the first two months of 2023. But that has left London office... 5th April 2023 · 3 mins read
US Commercial Property Focus Where are the risks from US commercial real estate greatest? While we expect a more-than 20% peak-to-trough price correction for US commercial real estate, offices face a much tougher outlook, with large falls in net operating incomes compounding the broader re... 4th April 2023 · 14 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Shallower downturn, but returns to lag Property values fell sharply in Scandinavia and Switzerland last year, but with valuations still stretched and financing set to remain challenging, we think yields will climb higher. And with economic... 4th April 2023 · 19 mins read
Non-Euro Europe Commercial Property Outlook Emerging Europe: Milder downturn, slower recovery Emerging Europe has seen less steep falls in values than elsewhere so far, but will not be immune in 2023. Higher interest rates and economic weakness mean these markets will have a challenging year... 31st March 2023 · 19 mins read
