Climate Economics Update The changing face of the global tourism market Somewhat paradoxically, climate-driven shifts in tourist patterns could help to smooth the seasonal peaks seen in summer destinations, and some countries – particularly in northern Europe – will... 1st July 2025 · 3 mins read
US Housing Market Chart Pack US Housing Market Chart Pack (Jun. 2025) Housing is struggling under the weight of high borrowing costs – a problem unlikely to ease if, as we expect, the Fed holds rates steady this year due to tariff-driven inflation, followed by only a... 30th June 2025 · 1 min read
UK Commercial Property Rapid Response Lending to commercial property (May 25) Net lending to property had another strong month in May, with the total of £2.15bn the largest amount in five years. 30th June 2025 · 1 min read
Europe Commercial Property Update Why we still predict Paris office rents to grow by more than the consensus Despite a sluggish economic backdrop and rising vacancy rates in the wider Paris office market, we continue to believe that prime office rental growth will be stronger than the consensus expects. This... 27th June 2025 · 3 mins read
APAC Commercial Property Outlook Values to fall as region’s markets struggle to recover The outlook for the Asia-Pacific markets is relatively poor. We think higher-for-longer bond yields will limit the pace of recovery in this cycle globally, but this will be compounded by a weak... 27th June 2025 · 20 mins read
Europe Commercial Property Update Swiss prime property values to recover sooner than most A comparatively attractive spread over risk-free rates and solid investor sentiment mean there is scope for Swiss prime property yields to fall further than in most other European markets this year... 26th June 2025 · 3 mins read
US Commercial Property Update No relief in sight for US CRE development A downbeat view on new supply underpins our overall CRE outlook. In the short term, the risks skew firmly to the downside and recent economic disruption reinforces this, while further out tight... 25th June 2025 · 3 mins read
UK Commercial Property Update Obsolescence to hit UK secondary logistics rental growth Despite solid take-up the industrial vacancy rate has risen to a 10-year high, which reflects occupiers shifting into new buildings at the expense of the secondhand market. We expect that dynamic to... 25th June 2025 · 3 mins read
US Commercial Property Outlook US Commercial Property Outlook: More capital value falls to come in all sectors this year We think the short-term outlook for capital values is poor, with valuations looking stretched across all measures. This does not appear to be reflected in other forecasts, meaning our forecasts for... 24th June 2025 · 22 mins read
UK Commercial Property Update UK multifamily returns to be supported by easing costs A combination of factors, including surging energy and wage costs and an increased regulatory burden, have pushed multifamily operational costs to over 40% of rent, cutting income returns. But with... 19th June 2025 · 3 mins read
Europe Commercial Property Outlook Europe Commercial Property Outlook: Insulated from tariffs but outlook for property values is weak European commercial property is relatively insulated from the direct impact of US tariffs, but property markets are also not likely to see substantial benefit from more fiscal spending. In all, our... 19th June 2025 · 27 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Jun. 25) UK commercial property is on the road to recovery and lending to the sector has been strong in recent months. But with yields set to remain stable, the rise in capital values will be modest over the... 18th June 2025 · 1 min read
Canada Economics Update Canada Housing Watch (June 25) The rise in home sales in May suggests a nascent recovery is underway in the housing market following a tariff-induced shock. While we see further upside for house prices this year, as lower mortgage... 16th June 2025 · 4 mins read
UK Commercial Property Update Closing UK commercial property SDLT ‘loophole’ will weigh on capital values The Deputy Prime Minister has urged the Chancellor to close the commercial property stamp duty ‘loophole’, which could lead to an average increase in tax on property transactions of 2.0 to 2.5%-pts... 13th June 2025 · 3 mins read
Europe Commercial Property Update Will office rents in Bucharest and Budapest continue to underperform? Having lagged over the past year, the improving economic backdrop should support office demand in Bucharest and Budapest in the coming few years. However, while we think high vacancy rates will limit... 12th June 2025 · 3 mins read
US Commercial Property Update Corporate bonds offer more proof of stretched US CRE valuations On the back of the MSCI and NCREIF indices reporting rising capital values in Q1 and our significantly below-consensus forecast views for the next two years, we are again re-evaluating our forecasts... 11th June 2025 · 3 mins read
