Europe Commercial Property Update Spanish industrial rent outlook solid, but little room for yield falls The solid pace of economic growth in Spain over the next couple of years will continue to support robust rates of industrial rental growth. However, we don’t think that will be enough to justify large... 14th August 2025 · 3 mins read
Global Commercial Property Update Global CRE needs a reset for real recovery to take hold With interest rates staying high and closed-end funds already sitting on a large volume of investors’ capital, global real estate fundraising looks set to stay in the doldrums. We think the sector... 13th August 2025 · 5 mins read
Europe Commercial Property Update Italian prime retail benefits from strong tourism Solid tourism flows and a pick-up in consumer spending growth mean we believe both Rome and Milan prime retail rents will continue to outpace the euro-zone average over the next couple of years. 12th August 2025 · 2 mins read
Europe Commercial Property Update Swedish residential property to outperform Europe again Swedish residential total returns have underperformed the European average over the past three years, but a bright rental outlook in particular means we think returns will slightly outperform Europe... 7th August 2025 · 4 mins read
Europe Commercial Property Update Q2 RICS survey shows muted euro-zone CRE recovery The latest RICS survey indicated that the recovery in occupier and investor demand in the euro-zone was muted in Q2. While the reduction in tariff uncertainty should support demand further ahead, the... 31st July 2025 · 2 mins read
Europe Commercial Property Update Tariff uncertainty drags on Q2 CRE investment The recovery in euro-zone investment paused in Q2 against a backdrop of trade policy and economic uncertainty. While the trade deal means some of that uncertainty has reduced, we expect that the... 29th July 2025 · 3 mins read
Global Commercial Property Update Global CRE to outperform other assets Although a forecast global real estate return of sub-6% p.a. over the next decade appears disappointing, compared to other assets it stacks up well. We expect sub-4% total returns for both global... 24th July 2025 · 4 mins read
Europe Commercial Property Update Improving CRE lending outlook unlikely to boost investment Recent surveys of real estate lenders point to a continued improvement in the European commercial real estate lending environment. However, with refinancing still dominating lending activity, this is... 23rd July 2025 · 3 mins read
Europe Commercial Property Update Netherlands prime office rent performance to slow Low vacancy and limited new completions this year will see Rotterdam rent growth continue to outperform Amsterdam over 2025, before supply picks up substantially in 2026. That will bring rent growth... 18th July 2025 · 3 mins read
UK Commercial Property Update Upward-only rent review ban in England and Wales would nudge commercial property yields up Experience from Ireland suggests that a ban on upward-only rent reviews will weigh on future rental growth and widen property yield spreads to risk-free rates. While the overall impact is unlikely to... 15th July 2025 · 4 mins read
Global Commercial Property Update APAC property to underperform globally Poor performance in the US and APAC property markets is set to drag on the global recovery over the next few years. While strong economic fundamentals argue for a material improvement in total returns... 10th July 2025 · 3 mins read
Europe Commercial Property Update Portuguese retail to lead the euro-zone We anticipate further yield falls for prime Portugal retail assets over the rest of the year. And with robust economic fundamentals and a solid rental outlook we forecast Portugal to be one of the... 9th July 2025 · 3 mins read
Climate Economics Update The changing face of the global tourism market Somewhat paradoxically, climate-driven shifts in tourist patterns could help to smooth the seasonal peaks seen in summer destinations, and some countries – particularly in northern Europe – will... 1st July 2025 · 3 mins read
Europe Commercial Property Update Why we still predict Paris office rents to grow by more than the consensus Despite a sluggish economic backdrop and rising vacancy rates in the wider Paris office market, we continue to believe that prime office rental growth will be stronger than the consensus expects. This... 27th June 2025 · 3 mins read
Europe Commercial Property Update Swiss prime property values to recover sooner than most A comparatively attractive spread over risk-free rates and solid investor sentiment mean there is scope for Swiss prime property yields to fall further than in most other European markets this year... 26th June 2025 · 3 mins read
Middle East & North Africa Economics Update Israel’s strikes on Iran: assessing the macro impact The overnight strikes by Israel on Iran mark a major escalation in the conflict in the region and, with the oil market tighter than it was a few months ago, the risks to oil prices look more balanced... 13th June 2025 · 6 mins read
