Europe Commercial Property Update Are opportunities emerging in European non-prime property? The spreads between non-prime and prime yields in some of Europe’s core property investment markets have widened over the past few years. But without stronger evidence of a sustainable economic... 3rd October 2013 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Sep. 13) The CIPS/Markit construction PMI suggests that commercial property developers are increasingly confident about the prospects for occupier demand and, hence, rental values. The conventional wisdom is... 2nd October 2013 · 1 min read
UK Commercial Property Update Hotel returns should remain solid but not stellar Inbound tourism volumes continue to drift upwards and many UK residents are seemingly still content to save money and take a domestic holiday rather than go abroad. This should help hotel capital... 25th September 2013 · 1 min read
Europe Commercial Property Update What does the end of Ireland’s recession mean for Dublin property? Last week’s data, which confirmed that the economy took another step forward in the second quarter, was welcome news for Irish property markets. But there was little sign of any material strengthening... 23rd September 2013 · 1 min read
UK Commercial Property Data Response Institutional Investment in Property (Q2 13) UK-based investing institutions were net sellers of commercial property in Q2. But this seems more likely to be a temporary blip rather than the start of a sustained sell-off and we think the nascent... 20th September 2013 · 1 min read
Europe Commercial Property Update Still a long way to go for Italian and Dutch GOEF liquidations Changes to the legislation governing German Open-Ended Funds (GOEFs) this year seem to have been well received. The overall value of the sector has stabilised and new fund launches are being planned... 19th September 2013 · 1 min read
UK Commercial Property Update Is the end in sight for the Central London shop boom? With yields already at low levels, the pace of Central London shop capital value growth is likely to slow over the next year or so. But with rents looking well-supported, falls in capital values in... 19th September 2013 · 1 min read
Europe Commercial Property Update What next for French and German capital values? September’s MPC minutes suggest that, despite the arguably disappointing impact of forward guidance, the Committee is happy with its policy stance. A resumption of quantitative easing (QE) before the... 17th September 2013 · 1 min read
UK Commercial Property Update The prospects for Central London office rents have improved The Central London office market clearly still has a significant degree of momentum and we have revised up our rental growth forecasts by two or three percentage points each year for 2013 to 2015. 12th September 2013 · 1 min read
Europe Commercial Property Update Bumpy path ahead for Turkish retail yields Yesterday’s Q2 GDP data from Turkey suggest that retail occupier demand in Istanbul and Ankara is currently pretty strong. Against this backdrop, we think retail yields in both markets could fall... 11th September 2013 · 1 min read
UK Commercial Property Data Response Financial and business services sector jobs (Q2 13) The number of financial & business services (FBS) sector jobs rose strongly again in Q2. Despite the looming spike in new Central London office development completions, this continued demand growth... 11th September 2013 · 1 min read
Europe Commercial Property Update Is industrial property in Prague poised to outperform? Our forecasts envisage that by end-2017, office and retail capital values in Prague are unlikely to be materially higher than current levels. By contrast we think that industrial values might rise by... 10th September 2013 · 1 min read
UK Commercial Property Data Response IPF Consensus Forecasts (Q3 13) The spike in mortgage interest rates has taken a toll on housing market activity, but we don’t expect it to knock the housing recovery off course. Nevertheless, with the inventory of homes for sale... 6th September 2013 · 1 min read
Europe Commercial Property Update What can we glean from regional unemployment data in the euro-zone? Unlike in Germany, regional labour market data from elsewhere in the euro-zone do not give much of a steer on the likely near-term paths of local office market vacancy rates. However, they do suggest... 6th September 2013 · 1 min read
Europe Commercial Property Update Euro-zone retail occupier markets strengthening, but values still at risk The main issue with UK regional indicators published in August was the poor economic performance that the Labour Force Survey ascribed to several regions, including London. Our view is that the LFS... 4th September 2013 · 1 min read
UK Commercial Property Data Response Construction PMI (Aug.) and Mergers & Acquisitions (Q2 13) August’s CIPS/Markit PMI indicated that developers anticipate a pick-up in occupier demand in the next few quarters, while the latest mergers and acquisitions (M&A) data were also encouraging. Our... 3rd September 2013 · 1 min read
