Europe Commercial Property Update Sharper falls in Warsaw office rents to come in 2021 Given its significant office supply pipeline, we have revised down our rental forecast for Warsaw offices this year despite a recovery in the labour market. And while we expect rents to pick up in... 3rd February 2021 · 3 mins read
Europe Commercial Property Update Where might industrial yields fall most this year? Differences in rental prospects and risk premia confirm our view that, despite looking overvalued compared to government bond yields, there is still scope for larger falls in industrial yields in the... 1st February 2021 · 3 mins read
Europe Commercial Property Update No stopping Dublin industrial rental growth A healthy economic backdrop, favourable supply conditions and the potential for a post-Brexit boost mean that we forecast Dublin industrial rents to keep growing at around 2% p.a. over the coming... 28th January 2021 · 3 mins read
Europe Commercial Property Update Can Oslo office yields continue to edge lower? Although much of 2020’s fall in Norwegian government bond yields has been reversed, we think that improving economic activity and supportive valuations will allow prime office yields to reach new... 25th January 2021 · 3 mins read
Europe Commercial Property Update Growth in Paris office rents has further to go Despite the softness in occupier activity, prime office rents in the French capital grew at a healthy pace in 2020. And with the labour market set to recover in the second half of this year and a... 21st January 2021 · 3 mins read
Europe Commercial Property Update Investors in Europe moving down the risk curve Although rental growth prospects for prime property are weak compared to recent years, the outlook is better than for secondary property. As such, we think that investors will continue to focus on... 18th January 2021 · 3 mins read
Europe Commercial Property Update REITs suggest limited upside to property values Recent movements in the REIT market add weight to our view that structural factors, rather than cyclical ones, will determine the outlook for property markets over the coming years. In turn... 14th January 2021 · 3 mins read
Europe Commercial Property Update Are we too pessimistic about Spanish office rents? Our forecast is for a cumulative fall in Spanish prime office rents over the next two years. But we think this view is justified as occupier demand is likely to improve only gradually, meaning space... 11th January 2021 · 3 mins read
Europe Commercial Property Update Investment activity set for a muted recovery in 2021 Despite a brighter economic outlook later in 2021, many of the factors that weighed on investment activity last year are set to persist. In turn, following a likely 20% fall in European (excluding UK)... 7th January 2021 · 3 mins read
Europe Commercial Property Update Our key commercial property trends for 2021 Although the rollout of effective vaccines should allow economic activity to rebound in the second half of the year, we do not think that European property markets will bounce back quickly. 6th January 2021 · 3 mins read
Europe Commercial Property Update Pandemic will not be the death of cities The pandemic – and the associated increase in working from home – may cause a fundamental shift in the way that cities function in future. But this shift will not necessarily trigger a more... 5th January 2021 · 8 mins read
Europe Commercial Property Update Is Turkish retail property roasted? The recent re-introduction of weekend curfews and the announced four-day new year lockdown suggest that the struggles of the retail sector will continue into 2021. And despite the improving outlook... 22nd December 2020 · 2 mins read
Europe Commercial Property Update CEE-euro-zone office yield spread to keep widening A weaker CEE rental outlook, coupled with tighter policy and investors’ reassessment of the sector, suggest that the recent widening between CEE and euro-zone office yields has further to go. 3rd December 2020 · 3 mins read
Europe Commercial Property Update Vaccine will not provide a quick fix for real estate News about a vaccine has boosted financial markets and we have revised up our global economic expectations for the next two years or so. But while we think that this bodes well for the medium term... 2nd December 2020 · 3 mins read
Europe Commercial Property Update Weak recovery expected in Moscow office rents Moscow offices rents were under pressure even before the onset of COVID-19 and a further steep decline is expected this year. Domestic economic factors will be more supportive in 2021, but this is... 17th November 2020 · 3 mins read
Europe Commercial Property Update Have we been too pessimistic about pricing in 2020? Third quarter data make it look increasingly likely that our year-end price forecasts will prove to be too negative. However, with the UK still on course for a capital value fall of close to 10% this... 12th November 2020 · 3 mins read
