The Green Street Commercial Property Price Index, which measures pricing of a broad swathe of European commercial properties, trended higher in the first half of ’25, despite the uninterrupted noise on the macro front. Industrial, residential, and data centre assets keep outperforming, climbing more than one percent, thanks to gradual income growth. With rates stable, the residential sector has seen some yield compression in select geographies. Retail and hotel pricing has been largely stable, with the former’s sequential price discovery improving during 1H while the latter is benefitting from continued healthy fundamentals. Meanwhile, self-storage pricing retreated ~200 bps, mostly dragged down by the U.K.’s underperformance. Office pricing signals have been mixed, albeit there are tentative signs of approaching the trough.

“Property prices have held steady year-to-date, defying continued noise and uncertainty on the macro front.” said Marie Dormeuil, Senior Analyst at Green Street. “Recent positive signals from the public REIT equity market and tightening spreads on investment-grade unsecured debt signals modest upside momentum to near-term pricing changes. Whether this manifests in bidding tents after the summer remains to be seen, albeit a growing number of transactions crossing the finish line in select geographies during the past six weeks across all sectors is a clear positive.”

The post European Commercial Property Price Index: July, 2025 appeared first on Green Street.

Green Street’s latest research dives deep into the performance of listed REITs vs. non-listed property funds—and the findings are eye-opening.

This report challenges the perception that non-listed real estate is inherently less risky. In fact, the data suggests that risk is being masked, not mitigated.

For investors and asset managers, this is a timely reminder to look beyond headline returns and dig into how those returns are constructed.

The post Property Insights: “Volatility Laundering” in European Real Estate appeared first on Green Street.

LONDON, 13 May, 2025 – Green Street, the foremost provider of commercial real estate intelligence and insights, has expanded its private market research coverage to the European self-storage sector. Utilising 5 years of forecasted insights and 10 years of historical data, Green Street’s new Self-Storage Outlook focuses on investment opportunities available in 30 European cities.

“Living quarters are becoming more compact and storage space is being cut back in urban developments, necessitating off-premises storage solutions for residential occupiers. Additionally, approximately 40% of the business customer base consists of small-to-medium-sized entities, particularly online retailers in the region,” said Marie Dormeuil, Head of European Market Analytics. “The growth in real spending on storable goods is expected to increase at 2% per annum over the next five years, supporting healthy demand growth.”

Green Street continues to invest in product innovation and expanding its breadth of research coverage by unveiling a host of proprietary data and analytics geared toward market participants in the European self-storage space. The new offering includes: market and NUTS3 grades, net initial yields, Commercial Property Price Indices (CPPIs), IRRs, and historical time series and 5-year forecasts for operating fundamentals. Users will be equipped with standardised metrics for easy comparability which can integrate into their own day-to-day modelling to enhance analysis.

Key takeaways from the Outlook report include:

• European self-storage market overview in a global context
• The evolution of the sector and its future growth potential
• Demand and supply drivers, along with forecasts for operating fundamentals
• Transactions, asset value trends, and expected investment returns
  

“The European self-storage sector is poised to grow given its relative infancy compared to many other major global economies. New players are entering the market, and investors would benefit from using Green Street’s research and data as they prepare to participate in the proliferation of this niche sector,” said Andres Toome, Senior Research Analyst.

About Green Street

Green Street is the leading provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S., Canada, Europe, and Australia. For 40 years, Green Street has delivered unparalleled intelligence and trusted data on the public and private real estate markets, helping investors, banks, lenders, and other industry participants optimize investment and strategic decisions. The firm delivers exclusive market information, conclusion-driven insights, and predictive analytics through a SaaS platform. To learn more, please visit www.greenstreet.com.

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The Green Street Commercial Property Price Index, which measures pricing of a broad swathe of Pan-European commercial properties, was stable in the first quarter of ’25, leaving overall pricing in-line with its pre-GFC peak. Industrial, residential, and data centre assets outperformed, climbing c.1% QoQ thanks to gradual income expansion and stable yields. Meanwhile, office pricing retreated ~60 bps as negative embedded rent growth in B/B+ properties dragged cash flow lower. Retail and hotel pricing was largely stable, with the former’s pricing benefitting from re-based rents and the latter enjoying healthy – albeit decelerating – rental rate growth.

“Property prices have held steady year-to-date, but such a sense of stability is now up in the air following the unveiling of the U.S.’s Liberation Day policies.” said Marie Dormeuil, Senior Analyst at Green Street. “In the past few days, investors have been spooked by much higher tariff announcements than what was anticipated, and real estate equities have sold off somewhat, albeit they are outperforming other industries due to property’s relatively defensive nature. Property prices are unlikely to move much higher in the near term as the outlook for operating fundamentals has deteriorated given the real-time rising odds of a global recession. Yet, macro fears are simultaneously pushing inflation-adjusted “risk-free” yields lower, providing an important ballast for property cap rates even if we see our income growth forecasts needing to be revised lower in the months ahead.”

The post European Commercial Property Price Index: April, 2025 appeared first on Green Street.

London, 20 March, 2025 – PwC has revealed its latest tally for chain retail stores, leisure venues and service outlets opening and closing across Great Britain for 2024.

The bi-annual report using proprietary data from Green Street, tracks over 200,000 chain outlets in over 3,500 locations to gain a picture of the changing landscape of chain outlets across the country.

PwC finds that net closures have stabilised, now sitting at -3,802 stores across high streets, retail parks and shopping centres.

Net Closures Take the Lead but Opportunities Beckon

The results for 2024 show that retail is witnessing a promising recovery as chain outlet closures fall to their second lowest level in a decade, with 12,804 closures reported. This marks an encouraging daily reduction to 35 closures, an improvement from 2023 (14,801 closures) and bettered only in 2022 (11,530 closures).

On the openings front, the count modestly declined to 9,002 openings, averaging 25 per day. This remains favourable compared to the pandemic years when openings fell below 20 per day, albeit still trailing behind the mid-2010s, when openings peaked at 34 per day. This number is a slight decline from 2023’s full year results that showed 9,138 new openings across England, Scotland and Wales.

Read the full PwC report for further insights

Green Street’s Retail Analytics Pro unlocks new possibilities for investors, occupiers, and public sector stakeholders, supporting data-driven decisions that enhance retail performance and local regeneration. By combining advanced data science with extensive industry expertise, Green Street continues to set new standards for real estate insights, empowering stakeholders to make smarter, more informed decisions.

The post PwC’s latest report is driven by Green Street’s proprietary retail analytics data appeared first on Green Street.

London – 6 February 2025 – Green Street, the leading provider of trusted commercial real estate intelligence and unbiased insights, has released its 2025 European Sector Outlooks, providing forward-looking insights into market fundamentals and valuations across five key property sectors: hotels, industrial, office, residential, and retail. Green Street also released its second annual report covering the global data center market. The Green Street team has seen a dramatic increase in global data center investment, influenced heavily by the growth of AI services.

“Each year, we assess how our 2024 predictions performed and learn from what transpired in the previous 12 months. These Outlooks also give us the chance to look forward, exploring the idiosyncrasies of different types of properties and the potential investment opportunities,” said Peter Papadakos, Managing Director and Head of European Research, “We know our readers will find this research thoughtful and actionable.”

Highlights from this year’s European Sector Outlook reports include:

• For hotels, 2024 was a strong year, in part due to an exceptional event calendar. In 2025, pricing power appears to be waning, and operators are focused on boosting occupancy rates.

• The industrial sector in Europe is the private-market darling. European market rents continue to climb, and nearshoring may benefit the industry further.
  In office, there’s been a bifurcation of ‘A’ space and ‘B’ space. The Work From Home threat to aggregate demand has stabilised but additional headwinds may emerge in the form of flex offices and AI.

• The residential investment market in Europe is not as large as in the U.S. but investment appetite for the space is huge. Market rent growth decelerated in 2024 but continued at a strong pace. Wage increases should help to mitigate housing affordability concerns.

• The retail sector has navigated its existential crisis. Tenants are demanding more space in the best performing centres. Averages belie the full story and there’s a bifurcation between A+/A and B+/B shopping destinations.

The Global Data Centers Outlook covers the landscape and markets where investments have the biggest opportunity for return. According to Green Street analysts, “hyperscale tenants will sign the bulk of new deals as ’25 data center investment budgets increase.” The largest challenges for the industry are access to power, transmission of electricity and obsolescence.

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The post Green Street Releases 2025 European Real Estate Sector Outlooks appeared first on Green Street.

From 2008 onwards, the vacancy rate rose steadily, peaking on January 1, 2021. Then the vacancy rate reached 11.8%. After 2021, we saw the vacancy rate gradually decrease again in the following years. However, last year this decline came to an end and vacancy rates rose sharply again. At the beginning of 2025, 11.2% of retail properties are vacant, which is 21,546 vacant properties.

Bankruptcies and bank closings

A major reason for the increasing vacancy rate is the large number of 2024 bankruptcies. Last year, Bristol, Carpet Right, Esprit and Scotch & Soda, among others, went bankrupt.

The other major reason has been hanging over the head of the Belgian retail market for a long time. Belgium, despite the digitization of banking, still has a very large number of bank branches. Especially now, when customers are increasingly managing their banking online, a large number of bank branches are being closed. Last year, ING closed more than 100 branches, and with the merger of AXA and Crelan, they too closed nearly 100 bank branches. A total of 300 premises disappeared last year.

Differences between centers

One aspect that always stands out in vacancy figures is the large differences between Belgian centers. Center areas of medium-sized cities have, on average, the highest vacancy rates. There, 17.5% of premises are vacant, with peaks in Charleroi (36.2%) and Péruwelz (32.8%). In the centers of those places, one of every 3 properties is vacant.

Huge numbers, especially when compared to the other end of the spectrum, the Shopping Centres where the vacancy rate is 6.7%. In Kortrijk’s Ringshopping, for example, only 2% of properties are vacant.

Belgian center areas face a major challenge if they are to find an infill for the large number of vacant properties in the coming years. Given the developments over the past 17 years, it is certainly not to be expected that they will again fill all the properties with retail, other solutions are needed for that.

Are you interested in learning more about Belgium’s vacant properties? Order the vacancy monitor Belgium 2025 now.

About Green Street

Green Street is the leading provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S., Canada, and Europe. For nearly 40 years, Green Street has delivered unparalleled intelligence and trusted data on the public and private real estate markets, helping investors, banks, lenders, and other industry participants optimize investment and strategic decisions. The firm delivers exclusive market information, conclusion-driven insights, and predictive analytics through a SaaS platform. To learn more, please visit www.greenstreet.com.

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The Green Street Commercial Property Price Index, which measures pricing of a broad swathe of Pan-European commercial properties, stalled by year end ’24 (+0.2% in 4Q), tempering its earlier steady upward path (+1.8% for the full calendar year). Amongst sectors, hotel, residential and data centre pricing moved up in the last three months due to unequivocally solid operating fundamentals. Conversely, the industrial sector moved backwards (-1% in 4Q), as rent expectations for B/B+ quality stock were recalibrated. Meanwhile retail has benefitted from improved sentiment amongst buyers and lenders throughout ’24, manifesting in higher investment liquidity.

“Property prices grew in the final quarter, but the momentum was somewhat more tepid” said Marie Dormeuil, Senior Analyst at Green Street. “A renewed level of concern is seeping into commercial real estate investors’ outlook with regards to pricing prospects as the recent sell-off across bond and equity REIT markets implies a less robust outlook for ’25 than what was the case only 30 days ago. Amongst the observed market volatility, public market signals favour the retail and hotel sectors, whilst being quite negative of industrial and office.”

The post European Commercial Property Price Index: January, 2025 appeared first on Green Street.

LONDON, U.K., 17 Oct. 2024 – Green Street, the preeminent provider of commercial real estate intelligence in the U.S., Canada, and Europe, has launched a new product suite with previously difficult to attain property-level data and analytics for the U.K. retail sector.

Retail Analytics Pro has been designed by Green Street to provide the retail market with a rich and dynamic platform, empowered by a team of field researchers physically verifying and recording the occupancy status of more than 700,000 stores. With over 10 years of historical vacancy trends, Retail Analytics Pro offers a platform like no other – supporting both occupiers and investors (direct and indirect) as they seek to drive alpha with data detail and insights not previously available in market.

“The U.K. retail sector has navigated through its existential crisis and is now back in the crosshairs of investor committees. The increased investor appetite for U.K. Retail has not gone unnoticed by Green Street, and the Retail Analytics Pro product suite is in response to client demand for high-quality granular data and analytics directed at this sector. The sticking point remains underwriting at an asset level, and whilst this makes U.K. retail investment more challenging and complex, it also provides greater investment upside for those willing to do so.” – Rob Virdee, Green Street Retail Sector Senior Analyst

“Retail Analytics Pro seamlessly integrates detailed UK property-level retail data with Green Street’s renowned analytics capabilities. This product launch represents a significant milestone in our mission to empower the global commercial real estate community in an ever-evolving market. It underscores our unwavering commitment to continually enhance our analytics and to better serve our clients.” – John Guilfoy, Green Street’s Chief Product Officer

Retail Analytics Pro is an evolution of Local Data Company’s (recently acquired by Green Street) property level data, which has been enhanced with greater analytics, including:

• New and improved health index using real-time occupier insights, macroeconomic data and demographic forecasting data, which will help investors monitor tenant activity and risk
• Support for leasing and location planning, portfolio optimisation and expansion strategies
• Comprehensive population forecasts and forward-looking metrics on housing growth
• Competitor tracking across all local areas with granular insights, including 10-year historical data
• Enhanced reporting for all UK high streets, retail parks, shopping centres and outlet centres

To complement the granular data, Green Street will publish sector research driven by the time-tested valuation framework based on risk-adjusted returns helping clients make more informed capital allocation decisions to maximize investment returns.

To explore Green Street’s Retail Analytics Pro and our new product’s different offerings, visit the Green Street Retail Analytics Pro website to learn more.

About Green Street
Green Street is the preeminent provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S., Canada, and Europe. For nearly 40 years, Green Street has delivered unparalleled intelligence and trusted data on the public and private real estate markets, helping investors, banks, lenders, and other industry participants optimize investment and strategic decisions. The firm delivers exclusive market information, conclusion-driven insights, and predictive analytics through a SaaS platform. To learn more, please visit www.greenstreet.com

Contact:
Green Street Media
media@greenstreet.com

The post Green Street Launches Retail Analytics Pro, an Unrivalled Granular Property Data & Analytics platform for the UK Retail Sector appeared first on Green Street.

The Green Street Commercial Property Price Index, which measures pricing of a broad swathe of Pan-European commercial properties, is positive for the third quarter in a row (+0.6%; +1.3% YTD), marking a steady upwards path throughout this year. Uptick within the residential sector (+1.8%) is bolstered by the strength of operating fundamentals and increasing liquidity. Meanwhile, the industrial (+1.4%) sector benefits from income growth, despite the momentum softening lately. Pricing of hotel, retail and data centre sectors held steady, whilst office pricing continues to drift lower, as sentiment remains tepid amongst buyers and lenders for B/B+ quality stock.

“Property prices have grown gradually throughout the year, confirming the early positive signals that we highlighted back in January when comparing commercial real estate returns to fixed income alternatives.” said Marie Dormeuil, Senior Analyst at Green Street. “The public market’s view also strengthened in the third quarter, favouring the industrial, hotel and data centre sectors whilst being less negative of office.”

The post European Commercial Property Price Index: October, 2024 appeared first on Green Street.