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Gradual recovery will drag on the retail sector

The lack of clear movement in the Q1 commercial property data has put other indicators into focus. These paint a much bleaker picture, particularly for the retail sector.
Yasemin Engin Property Economist
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European Commercial Property Update

Support from flexible office demand in CEE to wane

Comparatively strong demand from flexible offices has helped the CEE occupier recovery from the pandemic. But a more limited flex pipeline this year means it is not likely to provide much offset to the weakening employment prospects in the region.

9 August 2022

European Commercial Property Update

German office market at a turning point?

German prime office yields jumped in Q2 amid early signs that the weakening economic outlook is weighing heavily on the office market. And while there were strong rental gains in the first half of the year, we think growth will slow as economic headwinds keep a lid on occupier demand and vacancy rates continue to climb.

5 August 2022

European Commercial Property Update

Better transparency provides little respite for yields

While encouraging for the property risk premium, better transparency across Europe is unlikely to provide much support for property yields given the deterioration in the economic and interest rate environment. This is even the case for Emerging European markets, where recent transparency improvements have the most scope to support yields.  

2 August 2022

More from Yasemin Engin

European Commercial Property Update

Flight to quality in Barcelona offices to be short-lived

Last year, rents held up better in Barcelona’s CBD, and we expect this trend to continue this year. That said, higher rents in the CBD mean that they are also likely to be hit harder from the shift to remote working and associated reductions in office space, meaning the gap will close again in the future.

13 May 2021

European Commercial Property Update

Prague industrial rents to keep growing this year

Following stronger than expected Q1 data, we have revised up our rental forecast for 2021. And Prague’s low costs and constrained supply means that we think rental growth has further to go this year.

6 May 2021

European Commercial Property Update

Vienna office rental growth on hold until 2022

The poor near-term economic backdrop means that occupier activity will remain weak this year. But we think that the tightness in supply will prevent office rents from falling and support rental growth beyond this year.

28 April 2021
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