Little movement in office & retail yields
The second quarter of the year saw further signs that the euro-zone property market upswing is close to an end. With a 5% annual fall in investment, activity is now starting to track sideways on a four-quarter rolling basis. Very few office and retail markets recorded any downward shift in prime yields, meaning that the weighed all-property yield fell by just 2bps. And with rental growth easing, capital value growth slowed to less than 2% for the first time since 2014.