APAC Commercial Property Chart Pack APAC Commercial Property Chart Pack (Q3 2025) Asia-Pacific all-property capital values showed signs of stabilisation, with a milder 2.5% y/y decline in Q2. Still, the upturn in both investment activity and capital values will be weaker than in... 2nd September 2025 · 1 min read
US Commercial Property Valuation Monitor US Commercial Property Valuation Monitor (Q3 2025) Valuation scores held steady in Q2 and continue to suggest the sector is a little overvalued. This underpins our view that values still need further falls to support a stronger pickup in investment... 19th August 2025 · 0 mins read
Europe Commercial Property Valuation Monitor Europe Commercial Property Valuation Monitor (Q3 2025) Commercial property valuations improved in Q2 this year as alternative asset yields fell even though prime property yields edged slightly lower. Looking ahead, we think government bond yields will... 18th August 2025 · 0 mins read
APAC Commercial Property Valuation Monitor APAC Commercial Property Valuation Monitor (Q3 2025) The decline in Q2 government bond yields boosted APAC valuation scores. But with risk-free rates still high, property yields will not see meaningful falls. 18th August 2025 · 1 min read
UK Commercial Property Update Strong rent prospects support UK industrial valuations Decent rental growth expectations and a narrowing risk premium imply that industrial is only marginally overvalued, despite an historically narrow gap between industrial yields and alternative asset... 12th August 2025 · 3 mins read
UK Commercial Property Valuation Monitor UK Commercial Property Valuation Monitor (Q3 25) Property valuations were unchanged in Q2, with both property and alternative asset yields steady over the quarter. 7th August 2025 · 1 min read
US Commercial Property Update NCREIF Q2 2025: Another disappointingly muted release At 1.2% q/q, second quarter returns were roughly in line with expectations. But the data support our view that appraisals don’t fully reflect the drop in values needed for assets to transact. While a... 28th July 2025 · 3 mins read
Global Commercial Property Chart Pack Global Commercial Property Chartpack (Q2 2025) The gradual recovery in property values underway in Europe is unlikely to be pushed off track by tariff developments this year, but we think values still have further to fall in the US and APAC as... 2nd July 2025 · 1 min read
APAC Commercial Property Outlook Values to fall as region’s markets struggle to recover The outlook for the Asia-Pacific markets is relatively poor. We think higher-for-longer bond yields will limit the pace of recovery in this cycle globally, but this will be compounded by a weak... 27th June 2025 · 20 mins read
Europe Commercial Property Outlook Europe Commercial Property Outlook: Insulated from tariffs but outlook for property values is weak European commercial property is relatively insulated from the direct impact of US tariffs, but property markets are also not likely to see substantial benefit from more fiscal spending. In all, our... 19th June 2025 · 27 mins read
US Commercial Property Update Corporate bonds offer more proof of stretched US CRE valuations On the back of the MSCI and NCREIF indices reporting rising capital values in Q1 and our significantly below-consensus forecast views for the next two years, we are again re-evaluating our forecasts... 11th June 2025 · 3 mins read
US Commercial Property Valuation Monitor US Commercial Property Valuation Monitor (Q2 2025) Treasury yields eased slightly in Q1 but have since risen again. With property cap rates broadly flat, our valuation scores continue to point to overvaluation. This reinforces our view that any... 22nd May 2025 · 0 mins read
Europe Commercial Property Valuation Monitor Europe Commercial Property Valuation Monitor (Q2 2025) Commercial property valuations worsened in Q1 this year as alternative asset yields rose while prime property yields edged slightly lower. Looking ahead, we think there is limited scope for falls in... 15th May 2025 · 0 mins read
UK Commercial Property Valuation Monitor UK Commercial Property Valuation Monitor (Q2 25) Property valuations worsened in Q1 for the second quarter in a row as property yields saw little change even as gilt yields rose. 13th May 2025 · 1 min read
US Commercial Property Update NCREIF Q1 Index shows US commercial property values now rising, but valuation gaps persist The NCREIF Property Index (NPI) recorded a third consecutive quarter of positive total returns in Q1 2025, driven primarily by income. Although capital value growth turned positive, questions remain... 28th April 2025 · 2 mins read
Europe Commercial Property Outlook Europe Commercial Property Outlook: Higher interest rates weaken the recovery Following upward revisions to our forecasts for policy rates and bond yields, we have raised our forecasts for prime property yields in Europe and now expect increases of around 20-25bps by the end of... 27th March 2025 · 28 mins read
