Capital Economics

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European Commercial Property Updates

Short, timely, one page notes which highlight important economic, financial market or property specific developments and which draw out the implications for commercial property investment and occupier markets across Europe.

Sample - Amsterdam retail rental outperformance won’t last

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Articles
GOEF liquidations dampen medium-term European property outlookWill the rally in Bucharest office yields be reversed?RICS Global Survey too upbeat on Polish and Czech rental valuesIs the Q1 fall in all-property capital values a sign of what’s to come?Negative outlook for Swiss office rentsAre real estate equities understating the risks for 2012?Paris property yields looking vulnerable to an economic downturnDownside risks to Dublin office rental value outlook increaseNo improvement in euro-zone industrial rental value outlookBond sell-off adds to concerns for Spanish and Italian property prices
Weak service sector putting the brakes on euro-zone office rent growthAs good as it gets for German retail rents?Are Polish retail occupier market conditions as healthy as they seem?Still no sign of a recovery in Budapest office rental valuesAre things starting to look up for the Copenhagen retail market?Which European office markets are most at risk of oversupply?Have Portuguese property yields already risen enough?Are deal volumes in Emerging Europe property markets set to fall?Is a period of underperformance looming for Munich offices?Will strong investment demand in Spain be sustained?
Swedish industrial rental outperformance on shaky groundToo early to sound the all clear for the Dublin office marketEuro-zone commercial property recovery hopes dashed by PMIsFresh recession in the Czech Republic weighing on property outlookIs Dutch commercial property heading for a crash?French rental value prospects are bad, but not "Portuguese" badHave investors pushed UK property too far down their rankings?Fresh falls in Spanish retail rents lie aheadHas the best for the German office market passed?Will Hungary’s problems undermine other CEE property markets?
Rebound in Moscow commercial property prices will stallWill property investors shun France in 2012?Is Turkey poised for a sharp rise in property yields?Has the core/periphery yield spread peaked?Lower property investment volumes in store for Europe in 2012Are we too optimistic about the outlook for Swiss industrial rents?Are Spanish retail yields especially vulnerable to a correction?Are Warsaw office rents vulnerable to a renewed euro-zone recession?Clouds form over the Swedish retail marketAmsterdam retail rental outperformance won’t last
Which sector might fare worst from the looming Italian recession?Czech industrial market outlook darkens, but further rent falls unlikelyIs the drop in occupier market sentiment a sign of things to come?Fresh recession in Hungary set to undermine rental valuesEnd is in sight for the rally in Moscow property yieldsStability of Spanish office capital values won’t last much longerWill Czech retail property remain in vogue?Are we too downbeat on office rent prospects in Germany and Geneva?Ireland's strong economic growth has yet to revive occupier demandGerman industrial property looks vulnerable to a shift in sentiment
Which markets are most at risk from excess retail supply?Oslo office rental outperformance close to an endSlowing GDP growth unlikely to derail Polish investment market revivalIs the Italian retail market as safe an investment as some think?Have Hungarian retail yields fallen too far?Is Turkey’s commercial property market heading for another downturn?Spanish industrial rental downturn has further to runMinimal threat of office supply shortages in CEERelative pricing levels of Nordic retail markets set to shiftAre German office yields too low?
Euro-zone GDP figures point to softening property investment marketWill industrial rents in Belgian and Dutch markets continue to lead?Risks of fresh declines in French retail rents have increasedWhat is the outlook for Warsaw office rents?Will Czech retail rental values recover this year?End of the road for German industrial yield compression?Euro-zone PMIs highlight the downside risks to occupier demandWill the franc derail the Swiss occupier market recovery?How significant is the slump in Brussels office take-up?Should we be concerned about the drop in Polish footfall?
Is rising construction confidence a downside risk to rental values?Rising interest rates not yet a threat to Swedish property valuationsOffice yields in Milan likely to fall behind core euro-zone marketsNordic investment market attractive, but difficult to enterToo soon to turn positive on Irish commercial propertyCEE investment volumes still on upward trend, but remain subduedHave the downside risks to the French retail market increased?Office yields in Vienna offer some near-term upside potentialWill Warsaw industrial rents continue to lag behind?Spanish commercial property investment market not out of the woods
Copenhagen retail market looking increasingly overpricedHas the decline in Moscow all-property yields run its course?Will Istanbul be next to join the office rent recovery?Cracks between euro-zone core and peripheral markets widenGerman industrial recovery still insufficient to trigger rental growthIs the RICS survey too harsh on Czech rental growth prospects?Will retail continue to be investors' sector of choice in Europe?Tighter credit to weigh on the commercial property recoveryEuro-zone industrial rents unlikely to rise until 2012 or laterHave Spanish office rents reached a floor?
What does the ECB rate rise mean for European property?Poland: which sector offers the best investment opportunities?Capital value growth outlook still weak in Budapest and BucharestEuro-zone retail rental value growth outlook still pretty weakAre office rental values more vulnerable in Madrid than Barcelona?Divergent prospects for CEE property marketsDanish investment market to continue lagging Scandinavian recoveryIs the convergence of Zurich and Geneva office rents justified?Will industrial outperformance in Prague last?Will the underperformance of French retail rental values last?
High vacancy rates will stunt euro-zone office rental value growthHungarian and Romanian commercial property markets to lag behindQ4 2010 RICS global survey: too gloomy on the Netherlands?Spanish industrial rental downturn has further to runEmerging European office rental value growth prospects mixedFrankfurt to lead Germany's office rental recoveryIs German retail property really Europe's best bet?Is German retail property really Europe's best bet?Outlook is bright for Helsinki industrial rental valuesProperty yields in Warsaw to remain lower than in Prague
Hungarian risk factors on the riseHas Swedish industrial yield outperformance run its course?Is there any value left in European commercial property markets?Why have industrial rental values in Rome been so badly hit?Does the ruble pose a threat to the Russian retail rental recovery?German funds: liquidations point to downside risks for property pricesDo the harmonised falls in property yields in Paris and Lyon make sense?Will a strong krona derail the recovery in Swedish industrial rents?Will falls in Budapest retail yields be extended any further?When will euro-zone office rental values recover their 2008 highs?
Falls in Norwegian industrial yields look unsustainableWhat are euro-zone real estate equity prices telling us?Should Brussels offices command a higher risk premium?Expectations for European property rental values remain downbeatGerman capital values are likely to rise in the near termEuropean commercial property investment volumes unlikely to take-offEuropean commercial property investment volumes unlikely to take-offCzech occupier demand still under pressureIs Paris' office rental recovery running out of steam?Falls in Dutch retail yields are starting to fizzle out
Polish commercial property still offers good value, for nowIreland's property market is a long way from recoveryCEE retail rental values are unlikely to recovery anytime soonWill a lack of supply drive a recovery in European office rental values?Further falls in euro-zone industrial rental values are likelyPrague vs. Warsaw: where are office market prospects brightest?Interest rate rises unlikely to dampen Swedish property recoveryHas the Spanish retail property market outlook improved?Time to be more positive on German retail property?Hungarian retail yield recovery may prove premature
Underperformance of Czech Republic industrial yields is unlikely to lastWhy are Dutch retail yields leading the euro-zone recovery?Will Stockholm's prime office yield underperformance last?GDP data flatter the euro-zone occupier market outlookAre Paris retail yields too low?Italy: the best of a bad bunch?Moscow office rents are more likely to stabilise than recoverLatest rise in Greek property yields is unlikely to be the lastPoland vs. the Czech Republic: where are retail prospects brightest?Will the CEE property investment market recovery run out of steam?