UK Commercial Property Update Retail may lag behind as investors shift to non-prime property Past experience suggests that the current trend for investors to target the income generating qualities of the best secondary stock is a comparatively low-risk strategy. Yet, even leaving aside any... 10th June 2010 · 1 min read
Europe Commercial Property Update Sustained rises in Dutch office vacancy rates will impact rental values To date, Dutch office rental values have proved remarkably resilient to the sharp spike in vacancy rates. Yet, with demand still weakening and new supply still running at uncomfortably high levels, if... 8th June 2010 · 1 min read
UK Commercial Property Update Rental values set to rise next year, but recovery will be slow Upward revisions in the latest survey pushed the IPF Consensus into line with our own view that IPD all-property rental values will stabilise later this year and rise modestly in 2011. Yet, depending... 7th June 2010 · 1 min read
Europe Commercial Property Update Are Emerging European capital values on the road to recovery? The sovereign debt crisis in the euro-zone is bound to weigh heavily on the outlook for Emerging Europe, moderating, if not reversing, hopes for an occupier and investment market recovery. Thus, in... 3rd June 2010 · 1 min read
UK Commercial Property Data Response Construction PMI (May), Commercial property lending (Apr.) and Mergers & acquisitions (Q1) The latest CIPS/Markit construction PMI suggests that commercial property rental values will end 2010 higher than they started it. Given the weak economic outlook, that still seems a little optimistic... 2nd June 2010 · 1 min read
Europe Commercial Property Update What caused Belgian industrial rents to plunge in Q1? The sharp fall in Belgian industrial rental values in Q1 was probably just a delayed response to the depth of the recession. In any event, we expect the Belgian economy to grow a little faster than... 2nd June 2010 · 1 min read
UK Commercial Property Focus Will real UK commercial property rental values stay flat? Over the next 20 to 30 years, in contrast with the flat trend that has been experienced since the 1950s, we think that real UK commercial property rental values could rise slightly. As a guide, our... 1st June 2010 · 1 min read
UK Commercial Property Data Response IPF Consensus Forecasts (May) Although the gap has narrowed, the IPF Consensus is slightly less upbeat than we are about the commercial property market’s prospects for the rest of 2010 and 2011. Thereafter, however, we remain more... 28th May 2010 · 1 min read
Europe Commercial Property Update Will the resilience of French retail rents last? Although French retail rental values have barely fallen to date, we do not think that their resilience will last. With the economic recovery faltering, and figures released today showing that consumer... 27th May 2010 · 1 min read
UK Commercial Property Chart Pack Lower bond yields to help property yields fall further (Jun 10) The economy grew slightly faster in Q1 (0.3%) than originally thought (0.2%), but the bigger picture is that the outlook remains soft. Employment has started to fall again and a painful fiscal squeeze... 26th May 2010 · 1 min read
Europe Commercial Property Update Do Emerging European property markets offer good value? Some valuation measures indicate that Emerging European commercial property markets now offer good value. However, the deepening fiscal crisis in the euro-zone has led to a marked drop in risk... 25th May 2010 · 1 min read
UK Commercial Property Update “Delay and pray” continues; low interest rates crucial for outlook The latest De Montfort University (DMU) Lending Review makes uncomfortable reading for the commercial property market, showing that a full 20% of outstanding loans by value are now distressed. For now... 21st May 2010 · 1 min read
UK Commercial Property Data Response RICS Construction Survey (Q1 10) The latest RICS Construction Survey suggested that the sector as a whole returned to growth in Q1. Commercial property construction led that recovery, implying that developers’ optimism about the... 20th May 2010 · 1 min read
Europe Commercial Property Update How secure is the recovery in Western European capital values? Recent falls in property yields have lifted capital values in most markets, particularly in Norway and France. But this trend is unlikely to last. Indeed, we think that the yield recovery is likely to... 19th May 2010 · 1 min read
Europe Commercial Property Update Has the outlook for Hungarian commercial property improved? While recent news on the Hungarian economy has been surprisingly positive, we are not yet convinced that a sustainable economic recovery is underway. Among other things, Hungary’s fragile banking... 18th May 2010 · 1 min read
UK Commercial Property Outlook Capital values more likely to plateau than peak (Q2 10) Our major macroeconomic forecasts have not changed since the previous Analyst and, broadly speaking, neither have our expectations for the commercial property market. We still expect capital values to... 18th May 2010 · 1 min read
