Europe Commercial Property Update Strong rise in Danish property investment does not yet signal recovery The surge in Danish commercial property investment volumes in 2009Q4 is not as encouraging as it first seems. Although the economy is now expanding again, the 7% peak-to-trough fall in GDP will mean... 1st March 2010 · 1 min read
Europe Commercial Property Update Long road to recovery for Finnish and Portuguese retail rents Retail rental values in Helsinki and Lisbon have fallen by more than the euro-zone average. Helsinki has been hit by a steep drop in Finnish consumer spending, while increased supply has added to... 25th February 2010 · 1 min read
UK Commercial Property Chart Pack London office rents rise, but all-property average to fall further (Mar 10) The economy remains subdued, with the public finances in a poor state, retail sales declining sharply in January and unemployment rising again. All of this simply reinforces our view that GDP will... 24th February 2010 · 1 min read
Europe Commercial Property Update Is Q4’s Brussels office occupier market rebound sustainable? The spectacular rebound in office take-up in Brussels at the end of 2009 does not appear to be a total one-off. Indeed, relatively strong underlying demand and service sector sentiment suggests that... 23rd February 2010 · 1 min read
UK Commercial Property Focus Standard industrials & distribution warehouses: the outlook Over the next 4-5 years, driven by the recovery in the UK’s manufacturing sector, standard industrial annual total returns could average 10% to 11%. That would be higher than prospective returns from... 19th February 2010 · 1 min read
Europe Commercial Property Update Increased supply will weigh on Italian office rental values Although office rental values in Italy have held up reasonably well over the past eighteen months, a slow recovery in the economy and a rise in development completions suggest that this will not last... 18th February 2010 · 1 min read
UK Commercial Property Outlook A rally built on shaky fundamentals (Q1 10) We have revised up our near-term commercial property forecasts and expect average IPD capital values to rise by about 10% this year. That is consistent with a very strong total return of about 18%. 16th February 2010 · 1 min read
Europe Commercial Property Update Emerging Europe: credit and the investment market outlook There are tentative signs that credit conditions are easing in some Emerging European economies. This may raise hopes that commercial property investment markets in the region could rebound this year... 16th February 2010 · 1 min read
Europe Commercial Property Update Europe’s fiscal crisis: how big a threat for commercial property? Although German bund yields, our preferred measure of risk-free rates, have held fairly steady, commercial property investors cannot afford to ignore the sharp rise in Greek, Portuguese, and to a... 12th February 2010 · 1 min read
Europe Commercial Property Update Too soon to call a recovery in euro-zone office occupier demand Although some euro-zone office markets saw a rise in take-up at the end of 2009, we do not think that this spells the end of the occupier market downturn. The fragile state of the economic recovery... 8th February 2010 · 1 min read
UK Commercial Property Update Recovery may now be broadening, but not to all non-prime property There can be no question that the recovery in the prime segment of the commercial property market continues apace. The evidence on the performance of near-prime and lower-quality property, however, is... 4th February 2010 · 1 min read
Europe Commercial Property Update Spanish retail rents: further to fall Spanish retail rents have held up surprisingly well given the severe downturn in the consumer sector. However, with unemployment at nearly 20%, household debt levels high and taxes set to rise this... 4th February 2010 · 1 min read
Europe Commercial Property Update RICS survey relatively upbeat on the Czech Republic Last week’s RICS Global Commercial Property Survey painted a mixed picture of commercial property investment market activity in Emerging Europe. The recovery seemed to be strongest in the Czech... 2nd February 2010 · 1 min read
Europe Commercial Property Update Downside risks to Czech and Polish retail rents still evident The latest European Commission survey revealed an encouraging, widespread further improvement in industrial confidence in Emerging Europe in January. But data revealed a far more mixed picture for... 28th January 2010 · 1 min read
UK Commercial Property Chart Pack Economic recovery will remain slow, undermining rental values (Feb 10) The economy emerged from recession in Q4, but the 0.1% increase in GDP was well below expectations. We expect conditions in the labour market to deteriorate again and GDP growth to remain below trend... 28th January 2010 · 1 min read
Europe Commercial Property Update RICS survey upbeat on investment market, but not on rental values The RICS Global Commercial Property Survey released today confirmed that investment market activity in Western Europe rose in 2009Q4. It also indicated that the investment market recovery will be... 27th January 2010 · 1 min read
