Europe Commercial Property Outlook Structural factors to hold back office and retail recovery Although the near-term economic outlook remains weak, vaccine developments pave the way for a rebound in mid-2021. However, we think that the rental recovery in property markets will be more gradual... 10th December 2020 · 31 mins read
UK Commercial Property Update Shop rents to bottom out in 2022 after a 15% fall The confirmation of an effective vaccine in recent weeks has improved the economic outlook. But rising unemployment, a higher exposure to smaller retailers and ongoing travel restrictions will result... 8th December 2020 · 3 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Nov.) The rise in the headline construction PMI in November showed that the industry continued to recover even as overall economic activity probably contracted again. But builders’ optimism that this will... 4th December 2020 · 3 mins read
US Commercial Property Update Revising the peak-to-trough price fall to just 5% Our upcoming Outlook will detail major upgrades to our capital value expectations. Rather than a total fall of around 10% at the all-property level, we now expect the cumulative decline to be just 5%. 3rd December 2020 · 3 mins read
Europe Commercial Property Update CEE-euro-zone office yield spread to keep widening A weaker CEE rental outlook, coupled with tighter policy and investors’ reassessment of the sector, suggest that the recent widening between CEE and euro-zone office yields has further to go. 3rd December 2020 · 3 mins read
US Commercial Property Update Vaccine will not provide a quick fix for real estate News about a vaccine has boosted financial markets and we have revised up our global economic expectations for the next two years or so. But while we think that this bodes well for the medium term... 2nd December 2020 · 3 mins read
Europe Commercial Property Valuation Monitor Only 15% of European markets overvalued Falls in alternative asset yields in Q3 meant valuations continued to improve for offices and retail, while they held steady for industrial. And the backdrop is supportive of property valuations in... 30th November 2020 · 6 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Value recovery to pause Economic and property data for Q3 confirmed Switzerland and Scandinavia’s relative resilience in this pandemic. In fact, Scandinavian capital value growth improved across all sectors on an annual... 24th November 2020 · 5 mins read
Non-Euro Europe Commercial Property Chart Pack Emerging Europe: No respite for rents just yet Data for Q3 confirmed that while some office and industrial markets in the region recorded quarterly rental falls, weakness was still unsurprisingly concentrated in the retail sector. Core-CEE retail... 23rd November 2020 · 6 mins read
UK Commercial Property Focus Higher online share to boost logistics demand by 15% Virus-driven behaviour changes that support a faster online transition will boost industrial demand over the coming years. But we don’t believe the view that higher online spending will cause rents to... 19th November 2020 · 20 mins read
Europe Commercial Property Update Weak recovery expected in Moscow office rents Moscow offices rents were under pressure even before the onset of COVID-19 and a further steep decline is expected this year. Domestic economic factors will be more supportive in 2021, but this is... 17th November 2020 · 3 mins read
US Commercial Property Update Apartments, retail and the terrible Ts: Tech & Tourism Cities with a large tourism sector, such as Las Vegas and Orlando, still employ 10% fewer people than they did in February, which will hurt retail spending and apartment demand. And, while office... 10th November 2020 · 3 mins read
UK Commercial Property Data Response RICS Construction Market Survey (Q3) While the RICS Construction Survey still points to a small decline in output in Q3, there was a marked improvement in the share of surveyors reporting a fall in construction workload. Expectations... 5th November 2020 · 2 mins read
Europe Commercial Property Update CEE retail set for a harsh winter The second virus wave in CEE came at a time when the region’s retail sector was already on its knees. We now expect the fall in rents to continue in Q4, albeit at a slower pace than in Q2. 5th November 2020 · 3 mins read
US Commercial Property Update Swathes of sublease space will soon hit office rents The volume of available sublease space already exceeds that seen in the last two downturns. And an average discount of 20% to landlord asking rents, rising to 30%-plus in some cities, will reduce the... 4th November 2020 · 3 mins read
US Commercial Property Data Response RICS Commercial Market Survey (Q3) Occupier market sentiment remained at cyclical lows, but there was a small sign of improvement in the investment market. But we expect that only to be short-term respite, as the coming quarters are... 29th October 2020 · 2 mins read
