Europe Commercial Property Valuation Monitor

Europe Commercial Property Valuation Monitor (Q2 2024)

Property valuations were little changed in Q1 2024, failing to build upon the considerable improvement in 2023. Property yields increased further, but the smaller rise failed to offset gains in...

16th May 2024 · 0 mins read

Europe Commercial Property Update

Luxury rental growth to outperform mass market retail

The rebound in prime retail rents is set to wane this year. But we think prime rents on luxury high streets will continue to outperform those of mass markets in the coming years.

7th May 2024 · 3 mins read

US Commercial Property Update

Q1 RICS survey highlights diverging market views

While overall surveyor sentiment remains negative, the Q1 RICS survey appeared to show a divergence in views between respondents of where in the cycle the market currently is. We think the apparent...

26th April 2024 · 3 mins read

Europe Commercial Property Update

Still-weak sentiment consistent with sluggish recovery

The latest RICS survey suggested that there was a further improvement in occupier and investment demand at the beginning of 2024. However, the big picture was one of a very weak market, reaffirming...

25th April 2024 · 3 mins read

UK Commercial Property Update

Residential rental growth to outperform

The Q1 RICS commercial survey provided further evidence that occupier demand has turned the corner, with demand ticking up in the industrial and office sectors. But with availability still elevated...

25th April 2024 · 3 mins read

UK Commercial Property Chart Pack

UK Commercial Property Chart Pack (Apr. 24)

All-property yields have been broadly stable since the start of the year. Higher-than-expected interest rates mean yields may see a further small rise over the next few months, but we still think they...

24th April 2024 · 1 min read

US Commercial Property Update

Permanent online shift is mixed news for retail

The latest e-commerce statistics suggest that the pandemic has left US online sales on a permanently higher trend. That will be bad news for retail rents generally, though the detailed data also hint...

23rd April 2024 · 4 mins read

Europe Commercial Property Update

Expect subpar rental performance in Germany

While rental performance in German commercial property markets has been relatively solid given the country’s poor economic performance over the past five or so years, we think this is set to end.

16th April 2024 · 3 mins read

Europe Commercial Property Update

Answering questions from our recent Drop-In

This week we held a Drop-In on the outlook for euro-zone commercial property. Clients can access a recording here. This Update provides answers to the most interesting questions that emerged from the...

11th April 2024 · 3 mins read

US Commercial Property Outlook

A tough year in store, but retail returns will be positive

This year is being flagged by many as the year the recovery starts, but there is still a substantial amount of pain (and value falls) to come. We think activity will gradually pick up in H2, but...

22nd March 2024 · 22 mins read

Europe Commercial Property Outlook

Further value falls to come, but should reach trough in H2

Further near-term yield rises will push property values lower in the coming quarters, but better valuations, falling interest rates and improving economic activity suggest a trough should be reached...

21st March 2024 · 31 mins read

Europe Commercial Property Update

Rents rising but a retail renaissance in 2024 is unlikely

The revival of prime retail rental growth in 2023 ended a three-year rental decline for the sector. This likely marks the end of retail’s rental woes and we have nudged up our prime rent forecast for...

14th March 2024 · 3 mins read

UK Commercial Property Update

Online share developments not all bad news

The online share of retail sales is still above its pre-pandemic trend, but a closer look suggests that is perhaps not as bad for the retail sector as it looks. For example, the share of online...

13th March 2024 · 4 mins read

Event

Property Drop-In: US CRE Outlook – When’s the recovery?

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US commercial real estate prices may have fallen 15% from their peaks – led by a 30% plunge in office values – but this isn’t over.

Event

CRE Drop-In: Unpacking the slowest commercial real estate recovery on record

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The recovery that we’re forecasting for the US, UK and euro-zone commercial property markets is likely to be the weakest on record.