2022-06-08-莱坊-黄金产量指南_4页_560kb

Knight Frank Prime Yield Guide Summary - June 2022

This summary analyzes the June 2022 Knight Frank Prime Yield Guide, prepared on June 7, 2022. The guide is based on rack-rented properties and is for indicative purposes only.

Overall Market Trends

The UK property market shows a generally positive sentiment with declining yields in most sectors and strong cross-border investment interest.sterling resilience supports overseas investment, and UK commercial real estate (CRE) leads global cross-border investment, with yields reflecting improved returns and stability.

Sector-wise Analysis

• City Prime (Single let, 10 years): Yield stable at 3.75%, indicating a positive trend of yield decreases.
• West End: Prime yields at 3.25% with positive changes; non-core yields stable or slightly negative but overall positive sentiment.
• Major Regional Cities (Offices and Retail): Multi-let and single-let yields show declines, such as 5.00% for offices, reflecting stable or positive growth.
• South East Towns and Business Parks: Single-let yields at 5.00%, with stable business park yields around 5.25%, down from previous years.
• Student Accommodation: Prime London yields at 3.75% and regional at 5.00%, both showing positive trends.
• Specialist Sectors: Healthcare and Data Centres maintain stable or rising yields, highlighting resilience in key areas.
• Retail and Leisure: High Street and Out-of-Town Retail show mixed stability, with positive changes in open A1 parks, but some secondary sectors have negative trends.

Key Market Insights

• Global investment in UK CRE is high, with London attracting significant capital, particularly in offices and industrial sectors.
• ESG funds outperform, with net inflows, suggesting growing demand for sustainable properties and certifications.
• Rising interest rates impact financing, but overall sentiment remains positive, driven by economic stability and inflation protection benefits of property investments.

Cross-Border and Economic Context

The UK is a top destination for foreign CRE investment, with yields benefiting from global confidence. Sterling's stability encourages international capital flow, and bond yields reflect inflation concerns, but the market maintains positive growth momentum.