Commercial property survey confirms economic downturn
February 13th, 2009 by Jurga Galvan
The Royal Institution of Chartered Surveyors (RICS) has published its Commercial Market Survey for the Q4 of 2008, pointing out that occupier demand and enquiries declined at the fastest pace in the survey’s history (since 1998) with retail the worst performing sector for the second consecutive quarter, followed by the office and industrial sectors.
The market downturn coincides with the process of economy recession, forcing businesses to re-evaluate their spending and focus on cost effective solutions.
RICS report also shows that the amount of available floor space for occupation has also rapidly increased, at the fastest pace on RICS record.
London and the South has experience the sharpest increase in incentives offered by landlords.
Resources:
Download Q4 Commercial Market Survey (opens as a.pdf file)