UK Commercial Property Update

Retail rental growth pessimism appears misplaced

The consensus is still downbeat on the outlook for retail rents, with growth expected to underperform even the struggling office sector. But with a decent consumer recovery on the horizon we think...

2nd July 2024 · 3 mins read

Europe Commercial Property Outlook

End of the correction in sight, but outlook remains gloomy

The price correction showed signs of stabilisation in early 2024, but we think further, albeit much smaller, value falls are to come as yields edge a bit higher. Values should bottom by year-end, but...

13th June 2024 · 32 mins read

US Commercial Property Outlook

Property values on course to fall by more than 25%

The market remains in the doldrums, with the mood negative and activity weak. We think this summer could be the bottom for transactions, but we still see valuations needing to fall by another 12% from...

11th June 2024 · 21 mins read

UK Commercial Property Outlook

Residential outperforms within a modest recovery

Capital values for most property sectors are now close to bottoming out, but with yields set for a period of stability the recovery will be modest by past standards. We expect all-property total...

30th May 2024 · 27 mins read

US Commercial Property Chart Pack

US Commercial Property Chart Pack (Q2 24)

Weak investment activity and continuing cap rate rises in Q1 fit with our view for another tough year for real estate. All-property values are now down by 17% from their mid-2022 peaks. But we still...

22nd May 2024 · 1 min read

Europe Commercial Property Chart Pack

Europe Commercial Property Chart Pack (Q2 2024)

Smaller property yield rises and still-solid rental growth left all-property capital values little changed in Q1, a notable improvement on the sharp falls seen since mid-2022. However, we think...

22nd May 2024 · 0 mins read

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