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Will property resist the effects of deglobalisation?

A recent MSCI article speculated that real estate investment could buck the deglobalisation trend given distinct features of the asset class, though we are not convinced that will bring many benefits. In view of the wider interest, we are also sending this European Commercial Property Update to clients of our UK & US Commercial Property Services.
Andrew Burrell Chief Property Economist
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European Commercial Property Update

Dublin office rebound to run out of steam

Rents in the Dublin prime office market rose rapidly in H1 2022, supported by a continued recovery in occupier demand. However, a cooling jobs market and strong supply pipeline mean that a slowdown is likely in the second half of the year.

15 August 2022

European Commercial Property Update

Support from flexible office demand in CEE to wane

Comparatively strong demand from flexible offices has helped the CEE occupier recovery from the pandemic. But a more limited flex pipeline this year means it is not likely to provide much offset to the weakening employment prospects in the region.

9 August 2022

European Commercial Property Update

German office market at a turning point?

German prime office yields jumped in Q2 amid early signs that the weakening economic outlook is weighing heavily on the office market. And while there were strong rental gains in the first half of the year, we think growth will slow as economic headwinds keep a lid on occupier demand and vacancy rates continue to climb.

5 August 2022

More from Andrew Burrell

UK Housing Market Data Response

Nationwide House Prices (May)

There was another slowdown in the annual rate of house price inflation in May according to the Nationwide. That was in line with our expectation of sustained slowdown through the rest of the year, followed by single-digit annual price falls in both 2023 and 2024.

1 June 2022

UK Housing Market Data Response

Mortgage Lending (May.)

The drop in mortgage approvals in April provided early evidence that interest rate increases are starting to hurt activity. As we expect the rises in both policy and mortgage rates to continue apace over the next 12 months, we think this will further subdue demand and lending in the months ahead.

31 May 2022

European Commercial Property Update

Do recession risks threaten euro-zone rental growth?

The risks of a recession in the euro-zone have risen. While we think a contraction will be narrowly avoided, this will remain a concern for property investors already facing the prospect of higher yields in the near term.

26 May 2022
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