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White papersEuropean Real Estate Debt Markets Re-align
5-year swap rates have pushed all-in real estate interest rates to over 4%, their highest levels since 2013. This has been triggered by record high inflation, central bank rate hikes, and uncertainty on the macroeconomic outlook.
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White papers
Next Wave of Physical Climate Risk
For any remaining sceptics, 2022 post-Covid summer has further confirmed that climate change is for real with new record length droughts, forest fires and the Rhine river at risk of running too low for commercial shipping.
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White papers
European Logistics Reaching a Turning Point
The ECB has signaled a 25-50 bps rate hike in July and September as on the back of the on-going Ukraine conflict, inflation has continued to move up. Depending on the country, European government bonds have spiked by 100-200 bps over the last three months. These higher bond yields will impact on logistics markets as measured by our new Jun-22 base case and downside scenarios.
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White papers
Repricings & Reopening Trigger Shopping Center Outperformance
Despite the significant challenge of record high inflation, real retail sales in the Eurozone are projected to grow at 1.2% pa in 2022-26. This is a return to its long term post GFC trend and reflects the low consumer sentiment as well as high employment.
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White papers
2022 European Mid-Year Outlook: Dealing with Double Trouble
Even though governments have successfully limited the pandemic’s long term economic impact, the conflict in Ukraine poses an unexpected new challenge for markets.
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Research Report
AEW Monthly Research Report – February 2022
Land take regulations to drive land prices, density & Brownfield developments up.
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Research Report
AEW Monthly Research Report - September 2021
Debt used to fund new real estate acquisitions was €129bn for 2020. This is down by 15% from 2019 due to the Covid-19 lockdowns. Across the entire European market, the average annual acquisition LTV remained at under 50%,
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Research Report
AEW Monthly Research Report - July 2021
As the post-Covid recovery takes hold, inflation has increased rapidly to 5% in the US and over 2% in Europe triggering concerns on future interest rates, as central banks could be forced to reverse their lower-for-longer policies to meet their restated long-term inflation targets.
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Research Report
Climate-Informed Real Estate Returns In Europe - June 2021
As Europe has been ramping up its vaccinations, it is also coming to grip with the latest Covid-19 variant. In the meantime, restrictions are slowly being lifted after 15 months of various degrees of lockdowns across the region. Attention has already been shifting to the upcoming UN Climate Change Conference (COP26) planned for early November.
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Asset Manager News
AEW makes first European life sciences acquisition with Copenhagen investment
AEW, the global real estate investment manager, announces that it has made its first acquisition in the emerging European life sciences sector with the acquisition of Sydmarken 5, a fully let asset in the Medicon Valley of Copenhagen, Denmark.
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Research Report
Will Logistics Continue To Be The Favourite Asset Class For Investors?
Logistics is expected to continue its strong run as most European investors’ favorite asset class. Based on our analysis, European logistics will outperform other property types over the next five years.
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White papers
Mid-Year 2021 Outlook
Covid-19 negatively impacted 2020 European growth to various degrees. Regardless of its precise speed, the 2021-22 recovery is expected to be solid. But, this strength is also raising concerns on inflation.
