Europe Commercial Property Update Have Dublin office yields fallen too far? The decline in prime Dublin office yields towards pre-crisis levels raises the question of whether they have again fallen too far? But with a positive rental growth outlook and risk-free rates at... 24th May 2016 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Economic uncertainty slows yield falls and rental growth The start to the year has seen a slight easing of economic growth in much of the region, in part due to a rise in uncertainty. This caused investment activity to fall back significantly and rental... 20th May 2016 · 1 min read
Europe Commercial Property Chart Pack Marked slowdown in capital value growth With all-property rental values rising by a little under 0.5% q/q in Q1, it was further yield compression that once again drove capital value growth. But with yields declining by just 5bps, capital... 20th May 2016 · 1 min read
Europe Commercial Property Valuation Monitor Falling property yields draw closer to fair value Property yields ticked down marginally in Q1, but are now 80bps below their 10-year average. Changes in alternative asset pricing – with bond yields falling and dividend yields rising – mean that... 16th May 2016 · 1 min read
Europe Commercial Property Update Limited further upside for Swiss office values Lacklustre economic growth this year and next due to the strength of the Swiss franc is likely to drag Swiss office rents down further. But with negative bond yields and interest rates, this is... 12th May 2016 · 1 min read
UK Commercial Property Update London construction: risk or vote of confidence? London’s active office development pipeline has returned to past peaks, leaving the market vulnerable to an economic downturn. But so close to the EU referendum, we think that it is a sign that... 11th May 2016 · 1 min read
Europe Commercial Property Update Denmark and Sweden industrial rents set to outgrow Norway Norwegian manufacturing sector activity has slowed due to the drop in the oil price, whereas in Denmark and Sweden, output continues to grow steadily. Across the 2016-19 period, this will support... 6th May 2016 · 1 min read
Europe Commercial Property Update Investor outlook remains upbeat, despite fall in Q1 activity Investment activity across Europe declined in Q1. However, we don’t think that this is a sign of things to come this year. Indeed, investor sentiment remains upbeat, while strong capital flows are... 3rd May 2016 · 1 min read
Europe Commercial Property Update Positive capital markets drivers will support further yield falls A solid debt market and a high volume of capital chasing commercial property will keep bidding on prime assets competitive. Coupled with improving prospects for rental growth, we believe that this... 29th April 2016 · 1 min read
Europe Commercial Property Update German retail rents to rise despite moderation in consumption growth German consumption growth is set to moderate this year and next. However, due to demographic factors, prospects for retail sales in the main cities seem stronger than for Germany as a whole. Combined... 28th April 2016 · 1 min read
Europe Commercial Property Update Warsaw offices rental value falls far from over Solid employment growth will support strong occupier demand for Warsaw offices. But , the city’s huge development pipeline will again push rents lower in both 2016 and 2017. As such, we expect prime... 27th April 2016 · 1 min read
Europe Commercial Property Update Further falls needed to bring Moscow retail rents back to reality The falls in Moscow office and industrial rents since 2014 have been largely in line with our expectations. But despite large falls in real wages, retail rents have fallen by much less than we... 21st April 2016 · 1 min read
Europe Commercial Property Update Little reason to expect office rents in Milan to jump Last year, office take-up in Milan hit a new record and the vacancy rate fell for the first time since 2008. Although both factors imply the recovery in office rents may be about to gather momentum... 18th April 2016 · 1 min read
UK Commercial Property Update Central London retail values to hold on to recent gains Over the next few years, we expect high rents and elevated valuations to act as an increasing drag on capital values for the Central London retail market. That said, structural change in the retail... 18th April 2016 · 1 min read
Europe Commercial Property Update Record take-up points to logistics rental growth across Germany In 2015, German logistics take-up hit a new record. Although the Kiel Institute’s logistics sentiment indicator fell to its lowest level in three years in Q1, consumer goods companies and delivery... 14th April 2016 · 1 min read
Europe Commercial Property Update Prague high streets offer decent value despite historically low yields Positive consumer sector fundamentals reinforce our belief that prime retail rental values in Prague will rise by 3.7% p.a. in 2016-18. Low alternative asset yields and positive fundamentals mean that... 8th April 2016 · 1 min read
