Europe Commercial Property Update Scandi offices to prove more resilient than euro-zone Timely activity indicators suggest that the Scandinavian economies are already on the gradual path to normality, which will provide support to occupier demand and, in turn, prime office rents this... 10th June 2020 · 3 mins read
Europe Commercial Property Valuation Monitor Southern Europe leads valuation deterioration The broad-based jump in equity dividend yields following the virus-driven collapse in equity prices meant that property valuations deteriorated in Q1. This impact was exacerbated in southern Europe... 4th June 2020 · 7 mins read
Global Economics Update Euro-zone incomes will be hit harder than US On the face of it, the surge in unemployment in the US implies that households are being hit harder by the crisis than those in Europe. But much of this reflects differences in the way that furloughed... 3rd June 2020 · 5 mins read
Europe Commercial Property Update Crash in cross-border flows to hit southern Europe hard Markets that are most reliant on international capital will inevitably bear the brunt of the collapse in cross-border flows as investors remain very cautious in the face of COVID-19-related... 2nd June 2020 · 3 mins read
Europe Commercial Property Focus Which retail markets are most exposed to COVID-19? Before the virus outbreak, falls in prime retail rents were expected to be concentrated in Northern European markets. Now rental falls are likely to spread throughout Southern and Central Eastern... 14th May 2020 · 12 mins read
Europe Economics Update German Cash for Clunkers 2.0 won’t be a silver bullet Now that restrictions are being lifted, governments are inevitably facing calls to ensure that firms emerging from virus-imposed stasis have sufficient demand to stay open – not least in the German... 13th May 2020 · 3 mins read
Europe Commercial Property Update Impact of WFH on European office demand Data from Europe suggest that the relationship between working from home and office space per worker is weak. And even if working from home becomes more prevalent in the next few years, we think that... 11th May 2020 · 3 mins read
Europe Commercial Property Update Gradual recovery will drag on the retail sector The lack of clear movement in the Q1 commercial property data has put other indicators into focus. These paint a much bleaker picture, particularly for the retail sector. 7th May 2020 · 4 mins read
Europe Commercial Property Update Investor sentiment turns sour Despite reasonable levels of capital ready to invest and an expected loosening in credit conditions, the sharp deterioration in investor sentiment reinforces our view that euro-zone investment... 30th April 2020 · 3 mins read
Europe Data Response French, Spanish & Austrian GDP (Q1) Lockdown measures to contain the coronavirus caused unprecedented quarterly contractions in GDP in France and Spain in Q1. And with the restrictions set to remained unchanged until mid-May and then be... 30th April 2020 · 2 mins read
Europe Commercial Property Update Industrials not immune from COVID-19 fallout We think that, for the industrial sector, any short-term gain from an increase in online shopping will be outweighed by the plunge in demand and subsequent collapse in global trade. 24th April 2020 · 3 mins read
Nordic & Swiss Economic Outlook Comparatively well placed to weather the carnage Low levels of government debt mean that Switzerland and the Nordic economies are comparatively well placed to withstand the acute stresses being placed on the public finances – particularly compared... 21st April 2020 · 16 mins read
Europe Commercial Property Update Is southern Europe finally embracing e-commerce? While COVID-19 has forced consumers in southern Europe to shop online, we think that e-commerce penetration will remain lower for structural reasons, which is one reason why prime retail rents in... 14th April 2020 · 3 mins read
Europe Economics Weekly Monetary policy still doing the heavy lifting Evidence has continued to mount this week that the slump in activity in much of the euro-zone has been unprecedented. Meanwhile, disagreements between finance ministers were on display again, leaving... 9th April 2020 · 4 mins read
Europe Economics Update ECB using balance sheet more aggressively than ever The ECB is using its balance sheet aggressively to provide cheap funding to banks and support peripheral government bond markets. But there is no guarantee that banks will maintain their volume of... 8th April 2020 · 4 mins read
Europe Commercial Property Update Pricing more vulnerable in CEE markets Although property valuations and rental prospects remain supportive, the higher risk premium associated with CEE markets means that property yields are likely to increase more in the near term and to... 8th April 2020 · 3 mins read
