The first quarter of 2021 halted five consecutive quarters of decline in the London office market, with activity in the occupier market rebounding significantly to stand at 1.3 million sq ft, following a robust March.
Surveys & research
The Prime Central London (PCL) residential property market experienced the lowest volume of annual sales transactions on record in 2020.
Cambridge tops BNP Paribas Real Estate’s location analysis model as most desirable green city to live and work in
BNP Paribas Real Estate has identified a UK wide ‘top 10 list’ of highly desirable green places to live and work outside of the capital. The university city of Cambridge tops the list followed by Milton Keynes, Glasgow, Exeter, Bristol, Dundee, Reading, Leeds, Edinburgh and finally Newcastle completing the top 10.
Demand for large warehouse space (over 50,000 sq ft) was 37 per cent higher than pre-Covid, with take-up in the 12 months since April 2020 of 64 million sq ft, an increase of 17.1 million sq ft on the equivalent period in 2019/20, according to Gerald Eve’s latest Prime Logistics bulletin.
A total real estate investment volume of EUR290 million was transacted in the Czech Republic during the first quarter of 2021, according to Savills latest research. Without the exceptional EUR1.3 billion Residomo portfolio sale transaction, the investment volume was only down by 8 per cent year-on-year.
According to Savills, the food sector is becoming the new core in retail property investment. Last year, for the first time, investments in supermarkets, hypermarkets and food discount stores accounted for a record 21 per cent of total European retail activity, up from a five-year average of 7 per cent. Despite the decline of retail sales growth in 2020 (from 3.9 per cent in 2019 to 1.7 per cent in 2020), food and grocery sales increased by 7.5 per cent, and are expected to continue to rise by 2.2 per cent per annum over the next five years.
Cross-party think tank Demos and Legal & General have launched a new Place Satisfaction Index, offering key insights to the Government as it begins to tackle regional inequality.
The average number of new prospective tenants registered per ARLA Propertymark branch continued to rise in March to 84, from February’s figure of 82. This is the third month in a row where the number of new prospective tenants has increased.
In partnership with Irish Institutional Property (IIP) and KPMG Future Analytics, Clúid Housing has published Towards a Sustainable Rental Sector in Ireland: Understanding the Key Challenges & Opportunities.
According to the Edmond de Rothschild Economic Research team, the expected recovery in economic activity in Europe will provide more support to commercial real estate markets. Some of the main trends in place since the start of the crisis will persist in 2021, with differences in momentum between the four main real estate sectors (rental residential real estate, retail, offices, and industrial and logistics).