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
Europe Commercial Property Update What impact will lower oil prices have on Norway’s property markets? With oil prices having fallen and costs continuing to rise, firms in the sector have cut back their investment plans. Whilst this will reduce economic growth more broadly, we expect the greatest... 15th October 2014 · 1 min read
Europe Commercial Property Update Peripheral industrial property values look set to outperform In contrast to most core euro-zone markets, industrial yields across the periphery have yet to narrow to the same extent as office and retail yields. Hence, while the recent weak euro-zone production... 14th October 2014 · 1 min read
Europe Commercial Property Update Where next for prime office yields in Switzerland? Despite a weak outlook for the occupier markets, we expect Swiss prime office yields to mark time at their current levels for at least another 12 to 18 months as bond yields stay close to historic... 9th October 2014 · 1 min read
Europe Commercial Property Update Is now the time to be buying Spanish industrial assets? Gradually improving economic growth and tightening supply in prime locations is set to produce rental growth in the next 12 months. With industrial yields elevated relative to both office yields and... 8th October 2014 · 1 min read
Europe Commercial Property Update When will Prague office rents stabilise? Net absorption is likely to fall well short of the increase in new supply in the Prague office market over the next couple of years. Therefore, we have downgraded our rental growth forecasts for the... 1st October 2014 · 1 min read
Europe Commercial Property Update What impact will Turkey’s slowdown have on its retail sector? The significant fall in the Turkish lira, coupled with a consumer-sector slowdown, will ensure that landlords of secondary schemes continue to face downwards pressure on rents. However, Turkey’s prime... 30th September 2014 · 1 min read
Europe Commercial Property Update What impact will weak economic growth have on Italian retail rents? The relationship between retail sales growth and prime high street rental growth in Italy has broken down in recent years as occupier demand has been driven mainly by luxury retailers. Accordingly, we... 25th September 2014 · 1 min read
Europe Commercial Property Update Which sector offers the best prospects in the Netherlands? Given an environment of relatively muted economic growth in the Netherlands and its main trading partners, we think that office property returns have more potential to deliver a positive surprise than... 24th September 2014 · 1 min read
Europe Commercial Property Update Do German office markets face an impending oversupply risk? The short-term blip in German growth will not significantly impact office markets and, although development pipelines are growing, we expect to see continued office rental value growth in the next few... 16th September 2014 · 1 min read
