Europe Commercial Property Update European residential outperformance to persist over 2026-30 Residential rent growth is set to slow over the next couple of years as wage growth moderates, but we expect it to remain above past averages given tight supply conditions. Meanwhile, we think yields... 2nd December 2025 · 4 mins read
Europe Commercial Property Update 2026 looking brighter for European property investment The muted, uneven recovery in European investment continued in Q3, with indicators suggesting this will persist in Q4. The outlook for 2026 looks brighter, with lower interest rates providing a key... 25th November 2025 · 3 mins read
UK Commercial Property Update Key client questions from our commercial property in 2026 roundtables Recently we held a series of roundtable discussions with clients in our London office about the outlook for commercial real estate in 2026 and beyond. This note shares our answers to some of the most... 18th November 2025 · 6 mins read
Europe Commercial Property Update RICS surveyors’ expectations for EZ property recovery downgraded The RICS survey showed a softening in demand, investment enquiries and the outlook for capital values in the euro-zone in Q3, consistent with our view that the commercial property recovery will weaken... 13th November 2025 · 3 mins read
Europe Commercial Property Update Prime office rents set to outperform consensus expectations The consensus view of European prime office rental growth was generally revised up for this year and next. Even so, we remain more upbeat than the consensus given our view that low levels of new... 12th November 2025 · 3 mins read
Europe Commercial Property Update Demographic projections point to resi underperformance in French and German cities Population growth is expected to slow over the next five years, but projections show wide differences across European cities. French and German markets are set to see the weakest demographic growth... 6th November 2025 · 3 mins read
Europe Commercial Property Update Corporate bonds more supportive of French property valuations Rises in French government bond yields point to material increases in property yields in the next year or so. However, corporate bond yields, as an alternative benchmark, suggest less need for... 5th November 2025 · 3 mins read
Europe Commercial Property Update CE lead indicator points to euro-zone capital value slowdown Our new CE Capital Value Lead Indicator for the euro-zone is consistent with our latest forecast view that prime all-property capital value growth will slow to below 5% y/y by year-end. 20th October 2025 · 3 mins read
Global Commercial Property Update Retail and residential sectors set to outperform globally In a period of slow economic growth but stabilising inflation and earnings growth, we expect the residential sector to see the strongest rental growth globally, with industrial close behind thanks to... 15th October 2025 · 4 mins read
Europe Commercial Property Update CRE NPLs in Germany now highest in the EU and more on the way The notable rise in the share of non-performing loans to commercial real estate in Germany over the past couple of years stands out within the EU. We expect further increases to come in Germany, but... 14th October 2025 · 3 mins read
Europe Commercial Property Update Conversions reinforce a strong Spanish office rent outlook Office rental growth in Spain’s major markets will be underpinned by rapid employment growth and relatively low rates of hybrid work. And these trends are further supported by healthy conversion... 2nd October 2025 · 3 mins read
Europe Commercial Property Update Estimates point to steady euro-zone all-property yields further ahead Fair-value calculations which incorporate rental expectations suggest euro-zone all-property yields should hold steady in the medium term. However, the outlook differs by sector, with rises still... 25th September 2025 · 3 mins read
Europe Commercial Property Update Demand for industrial property near ports should hold up The recent resilience of euro-zone trade is expected to continue in the coming quarters, which will support demand for industrial property near key ports. However, industrial demand near the ports of... 18th September 2025 · 3 mins read
Europe Commercial Property Update Low supply and robust economic growth to support prime Warsaw office rents With new supply limited and solid GDP growth prospects supporting demand, we believe that Warsaw prime office rental growth will outpace the CEE average in 2025, before converging with the region’s... 4th September 2025 · 3 mins read
Europe Commercial Property Update Euro-zone prime recovery to date like the GFC, but different Solid rental growth has meant the recovery in euro-zone prime property values to date has matched the post-GFC period despite a more limited contribution from yield falls. A softer rental outlook... 28th August 2025 · 3 mins read
Europe Commercial Property Update Prague industrial oversupply to continue to weigh on rents Increases in new supply mean Prague industrial rents are likely to hold steady over the rest of this year. But improving economic growth, a strong e-commerce market and attractive affordability... 27th August 2025 · 3 mins read
