Europe Commercial Property Update Strength of Romanian industrial take-up to wane Although demand for Romanian industrial space held up in H1, we expect it to weaken over the rest of the year as consumer demand falters and the economy recovers only slowly. Combined with incentives... 5th August 2020 · 3 mins read
Europe Commercial Property Update Where next for office-based employment? We expect office-based employment growth to be faster than total employment growth by around 0.3-0.5% ppts each year over the next decade in the US, the UK and the euro-zone. The coronavirus crisis... 4th August 2020 · 3 mins read
Europe Commercial Property Update Is WFH a double-edged sword for Dutch offices? A more favourable economic outlook should support occupier demand and thereby prime Dutch office rents over the next few years. And while the shift to more remote working poses a risk, we think that... 31st July 2020 · 3 mins read
Europe Commercial Property Update Slow consumer recovery to hold back Polish retail rents The outlook for the Polish economy is better than in much of Europe. However, we still expect retail rents to end the year lower than in 2019, with the recent rebound in retail spending unlikely to be... 30th July 2020 · 3 mins read
Europe Commercial Property Update Landlords better positioned this time Although banks expect to tighten lending standards, we think that the underlying situation is much better than pre-GFC and that government schemes will continue to provide support, which should limit... 23rd July 2020 · 3 mins read
Europe Commercial Property Update Is investor interest in Portugal justified? Despite the deterioration in the rental outlook, attractive property valuations justify investor interest in Portugal, especially compared with its southern European peers. 22nd July 2020 · 3 mins read
Europe Commercial Property Update Better jobs picture will not spare office rents Despite the apparent strength of the euro-zone labour market in early Q2 data and the office sector’s inherent resilience, we still expect prime rents to fall this year on the back of the weak economy... 16th July 2020 · 3 mins read
Europe Commercial Property Update Property after the pandemic Global property markets are expected to see a lasting impact from the effects of the COVID-19 outbreak. Over the coming weeks, we will publish a series of pieces looking at the post-pandemic future... 15th July 2020 · 3 mins read
Europe Commercial Property Update Scandinavian data set out roadmap for the euro-zone The fact that there were signs of improvement in Scandinavian transactions in June provides some hope for the rest of Europe. But overall, commercial property investment will still face an uphill... 8th July 2020 · 3 mins read
Europe Commercial Property Update Relative strength of Swiss job creation won’t help rents The Swiss labour market is expected to hold up comparatively well this year which would normally bode well for occupier demand. But we expect a shift in bargaining power in favour of the tenant and... 7th July 2020 · 3 mins read
Europe Commercial Property Update Athens retail: best of a bad bunch While the quicker than anticipated pick-up in high frequency data has meant that the fall in Greek economic activity is likely smaller than initially feared, retail rents are still set to drop sharply... 3rd July 2020 · 3 mins read
Europe Commercial Property Update Luxury retail and tourism hit double whammy for Paris The hit to the luxury retail market and prolonged weakness in international tourism will cause Paris prime retail rents to decline this year for the first time since 2009. Although some rental... 2nd July 2020 · 3 mins read
Europe Commercial Property Update How has office output fared? Even though working from home has meant business as usual for many office occupiers, weak activity elsewhere has still caused euro-zone office output to fall. With the economic recovery expected to be... 11th June 2020 · 3 mins read
Europe Commercial Property Update Scandi offices to prove more resilient than euro-zone Timely activity indicators suggest that the Scandinavian economies are already on the gradual path to normality, which will provide support to occupier demand and, in turn, prime office rents this... 10th June 2020 · 3 mins read
Europe Commercial Property Update Crash in cross-border flows to hit southern Europe hard Markets that are most reliant on international capital will inevitably bear the brunt of the collapse in cross-border flows as investors remain very cautious in the face of COVID-19-related... 2nd June 2020 · 3 mins read
Europe Commercial Property Update Large pre-let pipeline in Milan won’t prevent rent falls Despite a large share of Milan prime space being pre-let this year, we think that a sharp drop in net absorption will result in prime office rent declines. And we don’t expect rental growth to bounce... 18th May 2020 · 3 mins read
