UK Commercial Property Data Response Institutional Investment in Property (Q3) Official statistics suggest that sentiment towards commercial property among institutional investors held up fairly well in the third quarter. But more timely monthly figures suggest that net... 21st December 2011 · 1 min read
Europe Commercial Property Update Lower property investment volumes in store for Europe in 2012 If we are right that all euro-zone member states will fall back into recession next year, commercial property investment volumes in the region are likely to be a major casualty. We would not be... 20th December 2011 · 1 min read
UK Commercial Property Chart Pack Institutions remain net property sellers Property Archive reported that, thanks to the office sector, investment market activity rose for the seventh month in a row in November. But there are now signs of a nascent sell-off by investing... 19th December 2011 · 1 min read
Europe Commercial Property Update Are we too optimistic about the outlook for Swiss industrial rents? Switzerland does not seem to be awash with vacant industrial property, so the risks of a slump in rental values in this sector over the next year or two are low. But the looming euro-zone recession... 15th December 2011 · 1 min read
UK Commercial Property Update Derivatives pricing highlights downside risks to capital values Given the sharp growth in trading activity in the property futures market, conceptually its pricing data perhaps give a better guide than swaps to the near-term prospects for physical property capital... 15th December 2011 · 1 min read
UK Commercial Property Data Response Financial and business services sector jobs (Q3) Financial and business services (FBS) sector employment rose strongly in Q3, which will have supported Central London office rental values. But a raft of banking job cuts have been announced since Q3... 14th December 2011 · 1 min read
Europe Commercial Property Update Are Spanish retail yields especially vulnerable to a correction? In recent years, the spread between Spanish retail and office yields has switched from positive to negative. This is typical in other countries and also squares with the long-run outperformance by... 13th December 2011 · 1 min read
UK Commercial Property Focus Will non-bank lending really help the property market? Even if we are right and non-bank financial institutions, e.g. insurance companies and pension funds, start to lend more meaningfully to commercial property this can only ever be a partial and/or... 12th December 2011 · 1 min read
Europe Commercial Property Focus What will a break-up mean for euro-zone commercial property? The economic and financial market dislocations that will arise from a break-up of the euro-zone will have severe, negative consequences for euro-zone commercial property markets. Indeed, we think that... 9th December 2011 · 1 min read
UK Commercial Property Update Should we be concerned about institutions’ property sell-off? At face value, net disposals of property by investing institutions in each of the past three months could be a sign that capital values will start to fall again very soon. Equally, however, it could... 7th December 2011 · 1 min read
Europe Commercial Property Update Are Warsaw office rents vulnerable to a renewed euro-zone recession? The strength of Warsaw’s office occupier market over the past couple of years suggests that the large and increasingly speculative development pipeline is not a risk to the rental outlook. However, a... 6th December 2011 · 1 min read
UK Commercial Property Data Response Mergers and Acquisitions (Q3) By volume, merger and acquisition (M&A) activity involving UK firms in Q3 dropped to levels last seen at the time of the credit crunch and deep recession in late 2008 and early 2009. These data... 6th December 2011 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Nov.) The CIPS/Markit PMI for November showed a slight slowdown in the pace of growth in commercial property construction. Looking ahead, given very weak economic prospects, the risks to occupier demand... 2nd December 2011 · 1 min read
UK Commercial Property Update Will shopping centre rental values continue to underperform? The recent underperformance by shopping centre rental values is unlikely to persist throughout 2012. But this does not mean that we envisage a recovery. Instead, we think that where shopping centres... 2nd December 2011 · 1 min read
Europe Commercial Property Update Clouds form over the Swedish retail market Q3’s plunge in Swedish consumer spending suggests that the outlook for the retail property market has deteriorated. Nevertheless, the low retail vacancy rate in Stockholm, together with strong demand... 1st December 2011 · 1 min read
Non-Euro Europe Commercial Property Chart Pack European property market is running out of bright spots Led by Poland and Russia, commercial property markets in CEE have been a relatively bright spot for investment in Europe. Yet, even here, growth in quarterly investment volumes has begun to slow. And... 29th November 2011 · 1 min read
