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European Commercial Property

European Commercial Property Update

Dublin office rebound to run out of steam

Rents in the Dublin prime office market rose rapidly in H1 2022, supported by a continued recovery in occupier demand. However, a cooling jobs market and strong supply pipeline mean that a slowdown is likely in the second half of the year.

15 August 2022

UK Commercial Property Update

Global trends point to a more difficult decade ahead

Commercial property wasn’t initially hit by the worsening in economic conditions at the turn of the year, but there are now growing signs of anxiety. Not only that, but even if the economic gloom is short lived and any downturn is mild, we expect structural factors to make for a listless global real estate recovery. In view of the wider interest, we are also sending this UK Commercial Property Update to clients of our European and US Commercial Property Services.

12 August 2022

European Commercial Property Update

Support from flexible office demand in CEE to wane

Comparatively strong demand from flexible offices has helped the CEE occupier recovery from the pandemic. But a more limited flex pipeline this year means it is not likely to provide much offset to the weakening employment prospects in the region.

9 August 2022

Our view

A weaker economic outlook and larger increases in interest rates are expected to weigh on property performance. With valuations under increasing pressure from sharply rising bond yields, we think that property yields will start to move higher. Rental growth is unlikely to be able to provide much offset to prevent falls in capital values over the next couple of years, with structural changes dragging on the retail and office sectors. In most markets, industrial will still outperform this year, but retail is expected to take the lead further ahead.