Europe Commercial Property Update Will Prague retail rents continue to rise? The rise in Prague retail rents seen over the past year or so is unlikely to be sustained over the next 18 months. But even though we think the consumer spending outlook will remain weak, the... 12th September 2012 · 1 min read
UK Commercial Property Update No need to panic about recent surge in transactions-based yields Property Archive’s transactions-based all-property yield recently rose to its highest level since mid-2009. However, not least because the office sector has comparatively high yields and its share of... 11th September 2012 · 1 min read
UK Commercial Property Data Response IPF Consensus Forecasts (Q3) The latest IPF Consensus forecasts contained few revisions from the previous survey. Capital values are still expected to drop by up to 5% this year, edge a little lower next year and then start to... 7th September 2012 · 1 min read
Europe Commercial Property Update Still room for Budapest office yields to underperform We see no reason to expect the wide spread that has emerged between prime office yields in Budapest and those in Prague and Warsaw to narrow anytime soon. Instead, Hungary’s relatively weak economic... 6th September 2012 · 1 min read
Europe Commercial Property Update Has the outlook for Russian property returns worsened? Recent signs of an economic slowdown have been in line with our expectations. Thus we feel little need to revise our relatively positive Russian commercial property forecasts. However, the gloomy... 5th September 2012 · 1 min read
UK Commercial Property Data Response Construction PMI (Aug.) and Mergers & Acquisitions (Q2) For the first time since early 2010, August saw the commercial property construction PMI dip below 50. Meanwhile, mergers and acquisitions activity remained very low in Q2. As signals of continued... 4th September 2012 · 1 min read
Europe Commercial Property Update Will Danish industrial property continue to underperform? Industrial property in Copenhagen is unlikely to buck the general trend of falling capital values in European markets. But over the next 18 months, and in contrast to the past five years, those falls... 31st August 2012 · 1 min read
Europe Commercial Property Focus Will safe-haven flows prevent a fall in Stockholm office values? Sweden’s strong economic fundamentals and high transparency scores have boosted overseas demand for Stockholm office property and pushed yields down to historically low levels. But we are sceptical... 28th August 2012 · 1 min read
UK Commercial Property Chart Pack Capital values hit lowest level in July since May 2010 The economy is now estimated to have shrunk by 0.5% q/q in Q2. But the labour market delivered better news - employment rose strongly in the second quarter. However, inflation ticked up in July, and... 28th August 2012 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Emerging Europe – at a turning point? Norway and Sweden continue to ride out the euro-zone crisis relatively well. But the picture in Emerging Europe is less bright. The Czech and Hungarian economies both contracted in Q2, while the pace... 24th August 2012 · 1 min read
UK Commercial Property Update Is it too early to be looking for a recovery? Commercial property capital values are likely to drop by perhaps another 5%. But that figure may now be small enough that would-be buyers are prepared to look past it and ahead to a recovery. As such... 23rd August 2012 · 1 min read
UK Commercial Property Update Out-of-town shopping centres will remain a bright spot In recent quarters, out-of-town shopping centres have performed well in absolute terms and relative to their in-town counterparts. The weak consumer outlook and the growth of on-line shopping both... 22nd August 2012 · 1 min read
Europe Commercial Property Update What is the outlook for Dutch retail property? The weakness of indicators of consumer activity in the Netherlands suggests that the recent pause in retail rental value growth is unlikely to be a one-off. Even so, the outlook for Dutch retail... 21st August 2012 · 1 min read
UK Commercial Property Update Hotels should remain comparatively resilient According to IPD, hotels are one of the few segments where capital values are at or above their levels a year ago. The continued euro-zone crisis will remain a strong headwind for hotels, but we... 15th August 2012 · 1 min read
UK Commercial Property Outlook Weak confidence to weigh on capital values Our forecast that all-property capital values will fall modestly, by between 6% and 7%, from peak to trough is unchanged. The downturn in capital values that we envisage is modest in both scale and... 14th August 2012 · 1 min read
Europe Commercial Property Update Where will Spanish and Italian property yields peak? Reports that investor interest in Spanish and Italian property has slumped in recent months seem consistent with our view that from current levels, property yields in both markets will see above... 14th August 2012 · 1 min read
