Global Commercial Property Update Retail and residential sectors set to outperform globally In a period of slow economic growth but stabilising inflation and earnings growth, we expect the residential sector to see the strongest rental growth globally, with industrial close behind thanks to... 15th October 2025 · 4 mins read
Europe Commercial Property Outlook Weak recovery despite lower interest rates The extension of the ECB easing cycle into 2026 will support real estate markets. However, a softer economic outlook and the narrow spread of property to government bond yields mean even our upwardly... 29th September 2025 · 26 mins read
US Commercial Property Outlook Final value falls deferred again, but US CRE still overvalued Our view that capital values still need to fall by 5% at the all-property level keeps our forecasts below consensus. Based on our forecast of a long-term 10-year Treasury yield of 4.5%, appraised cap... 22nd September 2025 · 21 mins read
UK Commercial Property Update IPF UK Commercial Property Consensus Forecasts The September IPF consensus survey forecasted all-property total returns of 7.9% p.a. over 2025-29. That was unchanged from May, with a downgrade to 2025 returns offset by a slight upgrade over the... 19th September 2025 · 3 mins read
APAC Commercial Property Outlook Buyer-seller mismatch will keep investment slow Asia-Pacific property will endure a slow , uneven recovery. E levated risk-free rates and soft regional growth will restrain capital appreciation, leaving income as the primary engine of returns. We... 18th September 2025 · 19 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Sep. 25) Rental growth has continued to defy gravity and there is early evidence of yield compression in some sectors such as offices. Nevertheless, a muted economic outlook and limited chance of a substantial... 17th September 2025 · 1 min read
APAC Commercial Property Chart Pack APAC Commercial Property Chart Pack (Q3 2025) Asia-Pacific all-property capital values showed signs of stabilisation, with a milder 2.5% y/y decline in Q2. Still, the upturn in both investment activity and capital values will be weaker than in... 2nd September 2025 · 1 min read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q3 2025) All-property capital values rose modestly by 0.1% in Q2, suggesting a market floor, with cap rates falling by 5 bps. However, we expect values to see limited upside due to the narrow spread to risk... 22nd August 2025 · 1 min read
UK Commercial Property Outlook UK Commercial Property Outlook: Property recovery faces numerous headwinds UK commercial property rental growth continues to surprise on the upside, but the capital value recovery is already running out of steam. Looking ahead, weak economic growth, a narrow spread between... 22nd August 2025 · 26 mins read
Europe Commercial Property Chart Pack Europe Commercial Property Chart Pack (Q3 2025) Tariff uncertainty weighed on investment and industrial property in particular in Q2. However, we don’t expect much recovery in H2 as long-term interest rates rise and economic growth softens. Indeed... 20th August 2025 · 0 mins read
Europe Commercial Property Update Italian prime retail benefits from strong tourism Solid tourism flows and a pick-up in consumer spending growth mean we believe both Rome and Milan prime retail rents will continue to outpace the euro-zone average over the next couple of years. 12th August 2025 · 2 mins read
Europe Commercial Property Update Q2 RICS survey shows muted euro-zone CRE recovery The latest RICS survey indicated that the recovery in occupier and investor demand in the euro-zone was muted in Q2. While the reduction in tariff uncertainty should support demand further ahead, the... 31st July 2025 · 2 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Jul. 25) Yields for the main commercial property sectors have been remarkably stable over past 18 months, and we expect that stability will continue. That means capital value growth will average under 3% p.a... 24th July 2025 · 1 min read
US Commercial Property Update US consumer sector divergence echoed in winning retailer types The retail sector was suffering before the rise in tariffs as consumers were hit by higher costs and interest rates. But digging deeper exposes a divergent picture between higher and lower-earning... 15th July 2025 · 3 mins read
APAC Commercial Property Chart Pack APAC Commercial Property Chart Pack (Q2 2025) All-property Asia-Pacific capital values fell at a slower rate of 3.4% y/y in Q1, driven by smaller declines in Australia and Hong Kong. But looking ahead, we expect the upturn in both investment... 9th July 2025 · 0 mins read
Europe Commercial Property Update Portuguese retail to lead the euro-zone We anticipate further yield falls for prime Portugal retail assets over the rest of the year. And with robust economic fundamentals and a solid rental outlook we forecast Portugal to be one of the... 9th July 2025 · 3 mins read
