Europe Commercial Property Update Investment drop-in: Answers to client questions This week we held a drop-in on the prospects for commercial property investment in the UK and Europe. This Update provides answers to the most interesting questions that emerged from the discussion. 3rd November 2023 · 4 mins read
Europe Commercial Property Update Belgian industrial rents to lead the euro-zone We expect industrial rents in Belgium to outperform the rest of the euro-zone on the back of a brighter economic outlook, very tight supply and a larger rise in e-commerce. We forecast annual average... 2nd November 2023 · 3 mins read
Europe Commercial Property Update Investment collapse on course to match GFC decline European investment fell sharply again in Q3 but with interest rates at their peak we think the downturn will soon bottom out. However, our upgraded bond yield forecasts indicate only a limited easing... 30th October 2023 · 3 mins read
Europe Commercial Property Update Early Q3 data confirm EZ crash as worst on record The preliminary data for Q3 were sobering, with euro-zone prime yields moving up significantly more than expected. This confirms the 2022-23 real estate contraction as the worst on record and, with... 27th October 2023 · 3 mins read
UK Commercial Property Update AI set to transform the real estate landscape The diffusion of AI technologies should be a fillip for the global economy over the coming years. That will bring benefits for real estate performance in developed economies, particularly in those... 20th October 2023 · 3 mins read
Europe Commercial Property Update Evaluating energy transition risk to European offices Anticipation of legislation requiring minimum standards of energy efficiency is already impacting CRE values as investors price in transition risk and this pressure is likely to ramp up in the coming... 19th October 2023 · 4 mins read
Europe Commercial Property Update Nordic industrial rents to outpace euro-zone next year Industrial rental growth in the Nordics is set to slow in 2024. But a brighter macroeconomic outlook and tight vacancy will help rent growth to outperform the euro-zone. Further ahead, the current... 13th October 2023 · 3 mins read
Europe Commercial Property Update Bond market sell-off a reminder of real estate fragilities The scale of the rise in bond yields over recent weeks has provoked worries about the impact on real estate. The sell-off presents an upside risk to our yield outlook, but we think falling inflation... 9th October 2023 · 4 mins read
Global Economics Update The bond market sell-off and the global economy The sell-off in bond markets has taken a breather today, helped in part by softer data on the US labour market. However, the scale of the moves over the past week has invoked comparisons to previous... 4th October 2023 · 6 mins read
Europe Commercial Property Update Fair value estimates confirm scope for yield falls Fair value calculations combine valuation analysis with a forward-looking view of rents. As such, these estimates reinforce our existing view that there is scope for declines in euro-zone yields... 29th September 2023 · 3 mins read
Europe Commercial Property Update Softer German office supply won’t stop vacancy rising The weakness in German construction activity has raised questions about whether a slowdown in new office supply could offset the weakness in demand and prevent a rise in vacancy. But we think that on... 26th September 2023 · 3 mins read
Europe Commercial Property Update Where next for euro-zone yields? The following is a presentation that our Chief Property Economist Andrew Burrell gave to the District Conference in Barcelona on 21st September, 2023. 22nd September 2023 · 1 min read
Europe Commercial Property Update Flex office woes not systemic, but concerns remain The problems of WeWork, which have intensified in recent months, do not look reflective of significant distress in the wider flexible office market. However, flex has yet to see much of a boost from... 19th September 2023 · 3 mins read
Europe Commercial Property Update What do yield spreads tell us about the outlook? Over the last year or so, spreads over sovereign yields have narrowed to their lowest since the euro-zone debt crisis. But while these are expected to widen again over the next year, mostly thanks to... 13th September 2023 · 3 mins read
Europe Commercial Property Update Weak macro outlook to weigh on Italian office rents After a strong 2022, annual office rental growth has slowed in Italy in H1 2023. And given the contraction in employment we are forecasting, together with increased supply, we think prime rents will... 12th September 2023 · 3 mins read
Europe Commercial Property Update End of Budapest office underperformance in sight The Budapest office market has underperformed in recent years, with rents lagging the rest of the region. While some weakness is likely for the rest of this year, the outlook is improving. With a more... 7th September 2023 · 3 mins read
