Europe Economics Update Finland on track for a pretty healthy recovery Finland has been hit particularly hard by the global economic downturn, faring almost as badly as Ireland. Nonetheless, the foundations are in place for a reasonably strong recovery, suggesting that... 8th December 2009 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Weak economic recovery to hold back occupier markets (Dec 09) Initial yields were stable in Q3 in most non-euro European markets. Investment activity rose, albeit from a low base. Rental values dropped further in Q3, especially in office markets. The largest... 4th December 2009 · 1 min read
Europe Economics Focus How long will Ireland’s hangover last? There have recently been some encouraging signs that Irelands painful adjustment may be coming to an end. Nonetheless, considerable obstacles remain. We expect the economy to continue to contract in... 3rd December 2009 · 1 min read
Europe Economics Update ECB starting to phase out unconventional support The ECB confirmed today that it is phasing out its emergency lending to banks, and perhaps a bit more quickly than had been expected. But the Bank is still downbeat about the economic outlook and we... 3rd December 2009 · 1 min read
Europe Chart Pack Domestic spending still weak Q3’s GDP release confirmed that the euro-zone economy finally exited recession last quarter. But the expansion was largely down to a slower pace of destocking than in Q2. Unfortunately, despite the... 2nd December 2009 · 1 min read
Europe Economics Update German banks’ troubles need not prevent recovery Concerns about German banks have increased, with the Bundesbank estimating that further hefty losses are to come and the Government warning of a worsening credit crunch. But, for the time being at... 1st December 2009 · 1 min read
Europe Commercial Property Update Swedish economy continues to grow, but rental correction not over Recent Swedish GDP data confirmed the fragility of its economic recovery. In our view, the modest growth has done little to suggest that Sweden’s commercial property occupier market downturn is... 1st December 2009 · 1 min read
ECB Watch Treading carefully The ECB will probably confirm at the forthcoming press conference that December’s provision of 12- month bank loans will be the last. Together with possible hints about phasing out 6-month lending... 26th November 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Nov.) October’s euro-zone money supply figures provided few signs that the ECB’s unlimited provisions of liquidity are prompting any pick-up in broad money and bank lending. 26th November 2009 · 1 min read
Europe Economics Update Conditions in place for an Italian consumer recovery On the face of it, the latest news from the Italian household sector has been pretty disappointing and suggests that consumer spending may have fallen fairly sharply in Q3. Nonetheless, we think that... 25th November 2009 · 1 min read
Europe Commercial Property Update Commercial property outlook rosier for France than Germany Over the next two years we think that the German economy will deliver slightly stronger growth than France. Even so, we think that the downside risks to French rental values are less, while a higher... 25th November 2009 · 1 min read
Europe Economics Update Greece’s fiscal mess spells bad news for growth prospects The recent news on the Greek public finances has been terrible and suggests that the Government faces a huge task to get its fiscal house in order. Eventually, we expect pressure from the European... 20th November 2009 · 1 min read
Europe Commercial Property Update What do vacancy rates tell us about office rental prospects? At the start of the recession, office vacancy rates across Europe varied hugely. Yet, however tempting it may have been to assume that rental values in markets with the lowest vacancy rates were... 20th November 2009 · 1 min read
Nordic & Swiss Economics Update Scandinavian housing market recovery unlikely to last The recent surge in Swedish and Norwegian property prices has fuelled concerns that both economies’ central banks may be forced to ratchet up interest rates in order to prevent housing market bubbles... 17th November 2009 · 1 min read
Europe Commercial Property Update Retail yield correction in the Netherlands still underway Over the past two years the prime retail yield in Amsterdam has gone from one of the lowest in the euro-zone to one of the highest. Given the relatively weak performance of Dutch retail sales, this... 17th November 2009 · 1 min read
Europe Economics Update Scandinavian housing market recovery unlikely to last The recent surge in Swedish and Norwegian property prices has fuelled concerns that both economies’ central banks may be forced to ratchet up interest rates in order to prevent housing market bubbles... 17th November 2009 · 1 min read
