September 2008
European quarterly data bulletin Q2 2008
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- On average prime office rents remain 9.3% higher compared to last year, but we forecast that the average prime CBD office rental growth for the year to be around zero.
- The prolonged effect of the credit crisis on the financial markets has forced investors to reprice risk further in the office sector. Annual average prime yield shift has reached +82 basis points. The average prime CBD yield is 5.5%.
- Prime industrial rental growth slowed down to 4.0% on average. Prime industrial yields have moved out by 21 basis points on average compared to the previous quarter. The average prime yield is 6.8%.
- The price correction in the retail sector has pushed the average prime yields of the survey area to their end 2006 levels.
- Prime retail units still showed a modest positive annual rental growth in Q2, 2.8% for shopping centres and 1.5% for retail warehouses.
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