US Commercial Property Apartment Metros Outlook Austin and Miami tumble down the apartment rankings We expect apartment markets to perform poorly over the next two years, with all our 17 metros seeing capital values lower at the end of 2025 than they are now. However, there will be substantial... 2nd January 2024 · 7 mins read
US Commercial Property Update Where will new apartment supply fall fastest? We expect the sharpest fall in apartment completions in 2025-26 in Boston, Denver, NYC and Seattle. Those cities will also be joined by Sunbelt markets where oversupply is already denting rents... 28th December 2023 · 3 mins read
Europe Commercial Property Update Paris the weak link among French logistics markets A relatively resilient economy and tight supply will support French industrial rent growth in the next two years. However, regional markets stand to benefit most. Availability is greater, and rising... 21st December 2023 · 3 mins read
US Commercial Property Office Metros Outlook West coast markets facing another beating in 2024 The performance of the 17 office markets we forecast will continue to be driven by structural factors over the next couple of years. That points to further weakness in the six major markets, where... 20th December 2023 · 7 mins read
Europe Commercial Property Update Warsaw retail revival to stall after 2024 In Warsaw, more favourable economic conditions will support retail spending and prime rents in the short term. But from 2025, faster rises in online shopping than elsewhere in Europe will cause the... 20th December 2023 · 4 mins read
UK Commercial Property Update Slower economic recovery is a risk for retail rents High interest rates have taken longer to percolate through the economy than we expected, but we now think consumer spending will contract over the next six months. That poses a risk to our retail rent... 20th December 2023 · 3 mins read
US Commercial Property Rapid Response Commercial Property Lending (Nov) Net lending on commercial real estate by banks resurged in November, despite signs from other data that lenders would continue to pull back from real estate lending. That said, the $4.4bn of net... 18th December 2023 · 4 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Dec. 23) Property yields rose further in Q3, but with risk-free rates now falling back, we think they will flat-line in Q4. That will help stabilise capital values, but given historically narrow yield spreads... 18th December 2023 · 1 min read
US Commercial Property Outlook Another year of double-digit value falls in 2024 Persistent weak growth and elevated (albeit soon-to-be falling) interest rates continue to spell trouble for real estate values. We see NOI growth softening further over the next year as the... 15th December 2023 · 22 mins read
UK Commercial Property Update Takeaways from our Property in 2024 roundtables This week, we held a series of property roundtable discussions with clients in our London office as part of our World in 2024 series. In this Update, we outline our thoughts on the most interesting... 14th December 2023 · 4 mins read
UK Commercial Property Update Hybrid working to boost Central London office demand Hybrid working is gradually allowing firms to cut back on the amount of office space they require, but it also means they need to think more about the attractiveness of their offices to support... 11th December 2023 · 3 mins read
Europe Commercial Property Outlook Too early to call the bottom, with offices set for more pain A weak economic outlook underpins our view that prime rent growth will continue to slow in Europe next year. At the same time, valuations remain stretched and the pace of recent yield rises suggests... 8th December 2023 · 35 mins read
US Commercial Property Valuation Monitor US Commercial Property Valuation Monitor (Q4 2023) Property yields rose across all sectors in Q3, but this was offset by a sharp rise in alternative asset yields towards the end of the quarter. As a result, all sectors saw a deterioration in... 6th December 2023 · 1 min read
UK Commercial Property Update Rising cost of foreign holidays to support hotel demand Hotel demand has suffered recently from the impact of high inflation and interest rates weighing on discretionary spending. But thanks to the soaring cost of foreign holidays and a revival in... 5th December 2023 · 3 mins read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q4 23) All-property values are down by 12.5% since mid-2022, but we expect an eventual decline of above 20%. Much of the correction at the all-property level is driven by our forecast for cap rates to go... 4th December 2023 · 1 min read
UK Commercial Property Update Industrial bubble poses a small risk to rents With hindsight, part of the boom in the industrial sector seen during and after the pandemic now looks like a bubble. That raises the risk that the overhang of assets started during that period of... 1st December 2023 · 3 mins read
