Europe Commercial Property Update Italian logistics rental values unlikely to rebound this year Strong growth in Italian logistics occupier market activity suggests that rental values may finally have found a floor. Yet with the Italian economy set to stagnate this year, and with ample spare... 9th January 2015 · 1 min read
Europe Commercial Property Update Are euro-zone property markets already looking weaker in 2015? Despite growing concerns about the euro-zone economic outlook, we expect rental growth to improve in 2015. Indeed, with the bund yield and the euro both falling further in the last month, there may be... 6th January 2015 · 1 min read
Europe Commercial Property Update Can Prague retail rental growth pick up steam? Given below-trend consumer spending growth in the Czech Republic until mid-2016, the short-term outlook is for only limited growth in retail rental values. While stronger growth will then push rents... 22nd December 2014 · 1 min read
Europe Commercial Property Update What’s the outlook for peripheral retail rental values? The outlook for consumption growth in the Southern peripheral euro-zone economies is fragile. Yet there seems potential for rents to rise, given that the current level offers decent value for... 18th December 2014 · 1 min read
Europe Commercial Property Update Subdued German occupier demand offset by tight supply The subdued outlook for German GDP growth suggests that occupiers will be cautious with regard to expansion plans in 2015. Nevertheless, relatively tight office and retail supply conditions imply that... 17th December 2014 · 1 min read
Europe Commercial Property Update How low will Copenhagen property yields fall this time around? Historically low bond yields and a gradually improving rental growth outlook should mean that prime office yields set new lows in this cycle. However, in the absence of frenzied lending on Danish real... 11th December 2014 · 1 min read
Europe Commercial Property Update What will lower Bund yields mean for property? Recent cuts to our Bund yield forecasts reflect our view that the euro-zone economy will struggle to gain traction over the next year or two. Yet, on balance, by creating the scope for property yields... 2nd December 2014 · 1 min read
Europe Commercial Property Update New retail supply will dampen rental growth in the Polish regions Polish retail sales growth will continue to improve as labour market conditions strengthen. While this will support further retailer expansion, the volume of shopping centre space being developed and... 28th November 2014 · 1 min read
Europe Commercial Property Update Milan office vacancy rate set to rise further Italy’s weak economic outlook suggests that occupier demand in Milan will continue to be driven by companies seeking to consolidate space. As such, over the coming quarters the vacancy rate will... 20th November 2014 · 1 min read
Europe Commercial Property Update Low office development supports Vienna rental values Office rental values in Vienna have ticked up over 2014 despite weak take-up. That seems to be down to the low availability of modern office space, as companies seek efficiency savings in light of the... 19th November 2014 · 1 min read
Europe Commercial Property Update Moscow capital values have further to fall The decline in Russia’s macroeconomic outlook suggests that Moscow occupier demand will fall further. With an influx of new supply also undermining rental values, and property yields set to come under... 13th November 2014 · 1 min read
Europe Commercial Property Update German office occupier market stronger than take-up data suggest There are a number of reasons to think that the German office occupier market is stronger than third quarter take-up data suggest. And, with vacancy rates low and the majority of upcoming developments... 7th November 2014 · 1 min read
Europe Commercial Property Update Falling vacancy points to Brussels industrial rental growth Despite only tepid economic growth in Belgium, strengthening occupier demand has caused industrial vacancy rates to fall. With vacancy at frictional levels, prime rental value growth will soon widen... 29th October 2014 · 1 min read
Europe Commercial Property Update Italian investment volumes set to grow after bank stress tests A low volume of “bad asset” sales helps to explain why Italy’s investment growth has lagged behind other countries. Yet the recent bank stress tests, combined with changes to the Italian REIT... 28th October 2014 · 1 min read
Europe Commercial Property Update How vulnerable is non-core logistics property to risk aversion? Compared to previous bouts of risk aversion, the peripheral euro-zone and emerging European economic outlook is better. And, with investors now seeing the sector as a core portfolio component, the... 22nd October 2014 · 1 min read
Europe Commercial Property Update Could rising risk aversion take the steam out of commercial property? The current rise in risk aversion may dent the growth in property investment volumes in H1 2015 as demand for secondary assets wanes. However, with bund yields remaining low, prime property demand and... 21st October 2014 · 1 min read
