Europe Commercial Property Update Investment case for Italy weaker than Spain The recent return of some international investors to commercial property markets in Spain and Italy seems to reflect the rapid turnaround in sentiment in both economies over the past year or so. Our... 30th October 2013 · 1 min read
Europe Economics Update Will Italian government bond spreads continue to fall? Given the recent run of positive economic news from the euro-zone, it is perhaps no surprise that the spread between Italian and German government bond yields has narrowed. But we remain concerned... 21st October 2013 · 1 min read
Europe Data Response French & Italian Ind. Production (Aug.) The latest industrial figures heighten the risk that both the French and Italian economies contracted in Q3, confirming that the euro-zone’s recovery is strongly reliant on Germany. 10th October 2013 · 1 min read
Europe Economic Outlook Growth prospects improve, but crisis unresolved The European economy has shown further signs of recovery, with the euro-zone finally emerging from recession in the second quarter and other parts of the continent also faring better. But growth in... 8th October 2013 · 1 min read
Europe Economics Update Renewed political uncertainty adds to Italy's problems Silvio Berlusconi’s decision to withdraw his support for the coalition Government may not trigger elections. But the fragile political situation highlights the huge challenges that Italy faces just to... 30th September 2013 · 1 min read
Europe Commercial Property Update Still a long way to go for Italian and Dutch GOEF liquidations Changes to the legislation governing German Open-Ended Funds (GOEFs) this year seem to have been well received. The overall value of the sector has stabilised and new fund launches are being planned... 19th September 2013 · 1 min read
Europe Data Response Italian GDP (Q2) & French Industrial Production (Jul.) Although Q2’s final Italian GDP figures painted a reasonably encouraging picture, timelier hard data, such as the French industrial production numbers for July, suggest that the euro-zone economy... 10th September 2013 · 1 min read
Europe Data Response Italian GDP (Q2) & French Industrial Production (Jul.) Although Q2’s final Italian GDP figures painted a reasonably encouraging picture, timelier hard data, such as the French industrial production numbers for July, suggest that the euro-zone economy... 10th September 2013 · 1 min read
Europe Commercial Property Update What can we glean from regional unemployment data in the euro-zone? Unlike in Germany, regional labour market data from elsewhere in the euro-zone do not give much of a steer on the likely near-term paths of local office market vacancy rates. However, they do suggest... 6th September 2013 · 1 min read
Europe Commercial Property Outlook No boom, but better times to come The economic outlook for the euro-zone has brightened since our previous Analyst, prompting us to increase our forecasts for commercial property capital values and total returns. Indeed, our less... 28th August 2013 · 1 min read
Europe Economics Update Italy’s debt dynamics still look ugly Despite the recent upward revision to our forecast for Italian GDP growth, we still think that the Government’s budget deficit and debt forecasts are too sanguine. 21st August 2013 · 1 min read
Europe Commercial Property Update Returning confidence in the Italian property market premature Signs of a renaissance in Italy’s commercial property investment market appear to be heavily reliant on investors targeting distressed property. To the extent that most investors are unwilling to buy... 12th August 2013 · 1 min read
Europe Data Response Italian Flash GDP (Q2) & Industrial Production (Jun.) Q2’s flash GDP release suggested that Italy’s deep recession is gradually easing. But an imminent and sustained period of growth still looks too much to hope for. 6th August 2013 · 1 min read
Europe Commercial Property Update When will office rents in Milan and Paris turn the corner? In contrast to most euro-zone markets, the downturn in Milan and Paris office rental values was extended in the second quarter. The comparatively high level of rents in each market, the rising trend... 30th July 2013 · 1 min read
Europe Economics Update Italian public finances remain in a precarious state We doubt that the new growth measures adopted by the Italian government will have much effect on the economy and still expect the 2013 budget deficit to be well above target. Based on this and Italy’s... 20th June 2013 · 1 min read
Europe Data Response French & Italian Ind. Production (Apr.)/ Italian GDP (Q1) Italian GDP figures for Q1 confirmed that the economy remained in a broad-based recession and April’s fall in industrial production pointed to another contraction in Q2. Thankfully, French industrial... 10th June 2013 · 1 min read
