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
UK Commercial Property Update Record fall in passing rents highlights office weakness The surprising strength of office market rents looks to reflect the increased use of incentives. Indeed, passing rents have seen a sharp decline, with all-office annual growth recently falling to a... 15th September 2023 · 4 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
US Commercial Property Update Denver’s poor jobs performance should be short-lived Denver’s poor jobs market performance over the last year appears to have been driven by a combination of a downsizing in Central Bank staff and layoffs in its large telecoms sector. But the former’s... 5th September 2023 · 3 mins read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q3 2023) All-property values are down by 10% from their mid-2022 peaks, but we think there is still another 15% to come by the end of 2024. Much of that price fall will be driven by a rise in cap rates in... 23rd August 2023 · 1 min read
UK Commercial Property Outlook Returns underpinned by income After a brief respite earlier this year, property yields are once again on the rise, driven by a further increase in gilt yields. We don’t expect a repeat of the surge seen last year, but we also... 21st August 2023 · 23 mins read
Euro-zone Commercial Property Chart Pack Europe Commercial Property Chart Pack (Q3 2023) Our Europe Commercial Property Chart Pack has been updated with the latest data and our analysis of recent developments. The slowdown in rent growth in the first half of this year is likely to... 18th August 2023 · 1 min read
Europe Commercial Property Update Our revised yield model suggests the peak is close Property yields have risen less sharply this year, but there remains considerable uncertainty about where they will peak. We returned to our yield model for guidance and, while a re-specified equation... 18th August 2023 · 3 mins read
US Commercial Property Update How remote work could impact US city revenues On the back of the remote work revolution, US downtowns have seen reduced office-led footfall and rising crime rates. Cities will need to be proactive to drive conversion to alternative use and to... 15th August 2023 · 4 mins read
Europe Commercial Property Update Bucharest office rental surge could have further to run Bucharest offices have been CEE’s best performing so far this year, as rent growth has accelerated rapidly. Although we expect growth to slow sharply from 2024, constrained supply of prime space and... 10th August 2023 · 3 mins read
US Commercial Property Update Is there real evidence of an office 'flight to quality'? The data show a small, but limited, divergence in performance between overall class A and classes B and C office space. But that differential appears to have been driven by newly-built "trophy" space... 9th August 2023 · 3 mins read
Europe Commercial Property Update Addressing key questions from our offices Drop-In We recently held a Drop-in titled “Office Sector Armageddon – Who gets hit hardest?”, which you can view on-demand here. This Update addresses some of the specific European questions we received... 3rd August 2023 · 3 mins read
UK Commercial Property Update Offices drop-in: Answers to client questions Last week, we held a Drop-In on the future of office property. This Update provides answers for a variety of questions from a UK perspective that emerged from the discussion. 2nd August 2023 · 4 mins read
UK Markets Outlook Gilt yields closing the gap Our forecast that in late 2024 and 2025 the Bank of England will cut interest rates further than investors expect suggests that UK gilt yields will fall and close the current gap with US yields... 25th July 2023 · 11 mins read
Europe Commercial Property Update Weaker supply adds to Amsterdam office optimism Occupier demand in Amsterdam has been more resilient than we expected so far this year. In tandem with supply constraints caused by construction delays, this suggests that prospects for rental growth... 24th July 2023 · 3 mins read
