European Property Snapshot
We are pleased to bring you our quarterly European Property Snapshot. Key points include:
- The recovery in European commercial property markets has continued, with falls in prime yields across Europe becoming more widespread, while prime rental levels are also beginning to stabilise.
- Nevertheless, there has been a slowdown in the pace of prime capital uplift in the more mature, responsive markets such as the UK and France, with increased risk aversion towards more secondary property in particular.
- Although total returns will slow over the next year, as capital values stabilise and even fall again for more secondary property, a sharp fall in capital values is not projected.
- A renewed recovery is projected for 2012 when employment growth is expected to gain more momentum.
Quote by John Danes, Head of UK Research and Investment Strategy:
"The sharp fall in government bond yields for the major European economies has highlighted the relative attraction of European commercial property from an income perspective. Although risk aversion towards more secondary assets in particular has increased again, due to concerns over the durability of the economic recovery, a collapse in development levels has also aided the stabilisation of prime rents despite weak occupier demand."
Kontaktpersoner:
Alessandro Bronda - Head of Global Strategy, Property
alessandro.bronda@aberdeen-asset.com
John Danes - Head of UK Research and Investment Strategy
john.danes@aberdeen-asset.com
Aberdeen Asset Management levererar med jämna mellanrum rapporter och nyhetsbrev. Bifogat finner du den senaste rapporten om den europeiska marknaden. Om du vill prenumerera på våra rapporter och nyhetsbrev kan du anmäla dig på www.aberdeen-asset.com/property: News, Reports & newsletters och klicka på länken "Aberdeen Property Newsletter" längst ner på sidan.
Aberdeen Asset Management en ledande, oberoende kapitalförvaltare
Aberdeen Asset Management är en global kapitalförvaltare vars samlade verksamhet omfattar förvaltning av traditionella tillgångsklasser som aktier, räntepapper och fastigheter samt alternativa investeringar. Aberdeens globala förvaltningsvolym uppgår till ca 2 biljoner kronor (30 juni 2010). Verksamheten drivs av mer än 1 800 medarbetare på 31 kontor i 24 länder över hela världen. Moderbolaget Aberdeen Asset Management PLC är noterat på Londonbörsen sedan 1991.
I Sverige förvaltar Aberdeen tillgångar till ett värde av ca 34 miljarder kronor där fastigheter motsvarar ca 23 miljarder kronor. Mer information specifikt om fastighetsdivisionen finns på aberdeen-asset.se/property.