US Commercial Property Update Chicago to be among the office market “winners” Our analysis suggests that both higher asking rents and a greater proportion of information jobs have been associated with a larger rise in sublease vacancy in recent quarters. We think there are good... 17th March 2021 · 3 mins read
US Commercial Property Update Major downgrade to office occupancy forecasts On the back of deeply negative office absorption last year and the continued flow of announcements from firms cutting their office space, we have made major revisions to our demand forecasts across... 10th March 2021 · 3 mins read
US Housing Reopening less of a positive for Boston apartments Greater availability, lower prices and proximity to NYC have supported demand for Boston apartments during the pandemic. That implies demand may edge back as the country reopens, and some workers... 5th March 2021 · 3 mins read
US Commercial Property Update Property valuations look solid despite rising bond yields A few weeks ago, we nudged up our Treasury yield forecasts for year-end 2021 and 2022, to 1.5% and 1.75% respectively. While intra-day yields exceeded 1.6% at one point last week, we don’t expect a... 4th March 2021 · 3 mins read
Europe Commercial Property Update The long view of property In light of our latest long-term economic and financial market forecasts, we have revisited our views for commercial property performance over the next three decades. We think that average returns... 1st March 2021 · 3 mins read
US Commercial Property Update Two more years of underperformance for malls Permanent increases in certain types of online sales will mean that regional and super-regional malls underperform the other retail sub-sectors for at least the next two years. Our forecasts point to... 23rd February 2021 · 3 mins read
US Commercial Property Update Industrial REIT pricing points to a forecast upgrade The performance of the major FTSE NAREIT sub-sectors since the end of 2019 appears to suggest that our forecasts for 2021 might be too weak for industrial and too strong for the office and apartments... 10th February 2021 · 3 mins read
Europe Commercial Property Update The future for city property In our Future of Property research, we identified important post-pandemic shifts in most real estate sectors. How these trends interact will be key to the outlook for the urban locations where most... 4th February 2021 · 6 mins read
US Commercial Property Update New space brings downgrade to NYC office rents The limited impact of the virus on New York City office construction means that we now expect at least 10mn sq. ft. of office space to be added across 2022-23. This could cause the vacancy rate to... 2nd February 2021 · 3 mins read
US Commercial Property Update Life science growth will support Boston offices We expect the boost in demand for life science product will support Boston’s office market. At the same time, office-to-lab conversions will limit the impact of a relatively large development pipeline... 27th January 2021 · 3 mins read
US Commercial Property Update Hospitality re-openings key to the outlook this year Leisure and hospitality re-openings were behind the strongest job growth in the Autumn, although national data for December suggest that this could be reversed on the back of renewed lockdowns. With... 22nd January 2021 · 3 mins read
US Commercial Property Update Hub and spoke model not the future of offices Many commentators are arguing that firms will shift towards a “hub and spoke” model following the pandemic. But we think the arguments for this approach are not as strong as they first seem, and that... 12th January 2021 · 3 mins read
US Commercial Property Update Five key calls for 2021 For 2021 we highlight five key calls. In particular we expect a year of two halves in which yields initially rise, but end 2021 close to their current levels. Retail and office rent falls will... 6th January 2021 · 4 mins read
Long Run Update Pandemic will not be the death of cities The pandemic – and the associated increase in working from home – may cause a fundamental shift in the way that cities function in future. But this shift will not necessarily trigger a more... 5th January 2021 · 8 mins read
US Commercial Property Update Structural changes threaten the hotel recovery The hotel sector has been hit hardest by the virus, and we expect its recovery will be slower than the other sectors. And, even when vaccines pave the way for an improvement in occupancy, structural... 22nd December 2020 · 3 mins read
US Commercial Property Update NYC apartment vacancy rates well-placed to recover As the country begins to return normal next year, the hardest hit apartment markets in the country will recover. New York City looks particularly well-placed to benefit from returning non-office-based... 16th December 2020 · 3 mins read
