Graphic of DNA string with sun Graphic of DNA string with sun


DNA of Real Estate Q4 2020

DNA of Real Estate tracks prime rents and yields in 46 cities across Europe, covering the key office, logistics and high street destinations. It has an overview of quarterly performance, and a summary of prime rents and yields for the cities and markets.


Office rental growth across Europe slipped further into negative territory in Q4 2020 with prime average rent down (-0.5%) taking annual average 0.8% lower on Q4 2019, its weakest annual performance since Q2 2010 in the wake of the global financial crisis. Most markets saw either flat or negative growth over the quarter. Prime yields registered marginal compression taking the European average to 4.3%, reversing some of the recent outward movement. Apart from some select markets, we see limited scope for rental growth further downward pressure on yields.



The retail sector continues to struggle with prime high street rents falling a further 2.6% over the quarter taking annual rents (-10.6%) lower over the year. This is the worst performance on record since the early 1990s. A total of 22 out of 46 markets tracked reported a fall over the quarter and 41 markets reporting a fall over the year. The largest drops year-on-year have been in the UK, Benelux, the CEE and Germany. The average prime yield rose to 4.72%, up from 4.3% a year ago.



The logistics sector continues to report a relatively strong performance on the back of stronger demand. Rents grew (+0.8%) over the quarter and by an annualised (+1.9%). The UK, Germany, France and Benelux registered some of the strongest uplifts over the year. Given the continued confidence in the sector and robust leasing markets conditions, prime yields fell a further 19bps over the quarter to 5.05%. Looking forward to 2021, logistics is the only sector where we see rental growth and yield compression across a majority of markets.


DNA of Real Estate tracks prime rents and yields in 46 cities across Europe.

Nordics covers markets in Denmark, Finland, Norway and Sweden. Benelux covers Belgium, Luxembourg and the Netherlands. Semi-core covers markets in Ireland, Italy, Portugal and Spain. CEE covers markets in Bratislava, the Czech Republic, Hungary, Poland and Romania.



Data Center Update Web Card
Research • Data Center

Data Centre European Secondary Markets Report

Data centre development across Europe has long centred around what were first known as the FLAP markets, major global cities each with deep business and financial sectors. As these markets continue to thrive, a host of newer locations have joined the data centre landscape.
Kevin Imboden • 12/08/2020
Birmingham, UK
Research • Insights

UK Capital Markets Briefing

The UK Capital Markets report charts investment activity over the fourth quarter and 2018, alongside the latest market pricing in financial markets.
Nigel Almond • 11/03/2019
Realising Real Estate Podcast
Insights • Retail

Realising Real Estate Podcast

Join our Cushman & Wakefield hosts Lottie Tollman and Richard Womack and listen to Realising Real Estate, the podcast that covers the spectrum of real estate. They will be discussing what's happening in the UK property markets with a wide range of experts. 


What's new

Ardent Completes Touchwood Acquisition and Names New Asset Management and Leasing team

The Ardent Companies (Ardent), the US-based real estate investment and asset management firm, has completed the acquisition of Touchwood shopping centre in Solihull from Lendlease Retail Partnership (LLRP).


Adam Lowe
Adam Lowe Joins Cushman & Wakefield To Drive Dedicated Primary Care Service

New joiner from Assura Plc to lead specialist offering within the firm’s UK Healthcare team


Ahead Partnership
Cushman & Wakefield Signs Up to Help Boost Future Skills

Cushman & Wakefield is the latest forward-thinking employer to join the likes of PwC, Arcadis and Pinsent Masons in a highly successful West Midlands business, professional and financial services (BPFS) careers initiative.



Looking for more historic or specific property market data? Get in touch.