US Commercial Property Chart Pack Apartments starting to recover; offices deteriorating The economic recovery looks well-set, which should support occupier markets. However, structural change in the office sector means that occupier demand continues to fall, even while the beleaguered... 13th May 2021 · 13 mins read
US Commercial Property Data Response NCREIF Property Index (Q1 2021) All-property total returns rose again in Q1, driven by improvements in all sectors, although retail and hotel returns were again negative. But the industrial sector boom continued, with six-month... 27th April 2021 · 3 mins read
US Commercial Property Outlook NYC and D.C. to benefit from COVID bounce-back All major city apartment markets will benefit from the reopening of the economy and reduction in remote work, with rental demand also supported by record low numbers of homes for sale. New York City... 1st April 2021 · 8 mins read
US Commercial Property Outlook Major Office Markets Outlook (Q1 2021) There are forecast downgrades across the board this quarter, owing to the changes to our occupier demand expectations at the sector level. The markets broadly split into three pairs. New York City and... 31st March 2021 · 16 mins read
US Commercial Property Outlook Faster bond yield rises will limit prospects for capital values The vaccine rollout and stimulus bill are unquestionably positive for the economy but may be a mixed blessing for real estate. Those two factors are probably most positive for the apartment sector... 25th March 2021 · 24 mins read
Europe Commercial Property Update The long view of property In light of our latest long-term economic and financial market forecasts, we have revisited our views for commercial property performance over the next three decades. We think that average returns... 1st March 2021 · 3 mins read
US Commercial Property Update Two more years of underperformance for malls Permanent increases in certain types of online sales will mean that regional and super-regional malls underperform the other retail sub-sectors for at least the next two years. Our forecasts point to... 23rd February 2021 · 3 mins read
US Commercial Property Chart Pack Sector and city performance to remain uneven Fiscal and monetary stimulus have kept economic growth solid and will support a continued recovery. While this bodes well for occupier demand, structural factors have weighed heavily on the office and... 18th February 2021 · 11 mins read
US Commercial Property Update Industrial REIT pricing points to a forecast upgrade The performance of the major FTSE NAREIT sub-sectors since the end of 2019 appears to suggest that our forecasts for 2021 might be too weak for industrial and too strong for the office and apartments... 10th February 2021 · 3 mins read
US Commercial Property Data Response NCREIF Property Index (Q4 2020) All-property total returns strengthened in Q4, broadly as we had expected. And the data continued to point to the importance of sector selection to returns. Perhaps the real surprise was that NCREIF... 26th January 2021 · 3 mins read
US Commercial Property Outlook Structural changes will keep office and retail in the doldrums While the news of vaccines provides a fillip to our economic outlook, it does not have a major bearing on our occupier market forecasts. After all, we expect that structural change, rather than... 11th December 2020 · 23 mins read
US Commercial Property Data Response NCREIF Property Index (Q3 2020) All-property total returns moved positive again this quarter, as valuation downgrades reduced markedly. A lack of forced sellers has limited transaction activity and reduced observable evidence, which... 27th October 2020 · 3 mins read
US Commercial Property Update ULI Consensus Forecast (Fall 2020) Consensus forecasts for this year have been revised upwards, although the outlook for total returns remains negative. At the same time, the prospects for 2021-22 have been downgraded, but only... 14th October 2020 · 2 mins read
Europe Commercial Property Outlook Slower recovery in values given weaker office outlook As widely expected, Q2 brought a range of disappointing data, from plunging investment volumes to further falls in retail rents. And while property values outside of retail have generally held up so... 18th September 2020 · 33 mins read
US Commercial Property Data Response NCREIF Property Index (Q2 2020) As expected, all-property total returns turned negative in Q2, led lower by sharp markdowns in the retail and hotel sectors. And, while rental values and capital values fell in all sectors last... 27th July 2020 · 3 mins read
US Commercial Property Update ULI Consensus Forecast (Spring 2020) Forecasts for all indicators in 2020 have shown a marked deterioration since the interim year-end 2019 forecast published in January. While the consensus sector ranking is in line with our March... 21st May 2020 · 2 mins read
