Rises in commercial property rents look set to ease off in the coming months as a result of increasing economic uncertainty, according to a survey of surveyors. Financial Times
The latest commercial survey by the Royal Institution of Chartered Surveyors will show confidence draining away as a result of the credit turmoil.
'Tenant demand for commercial property fell back in the third quarter, pulled down by a weaker retail sector which saw the most sluggish occupier activity in over a year,' the report says.
'Credit market turmoil has dampened activity across all three sectors while taking some of the steam from the previously rampant office market.'
The balance of surveyors expecting a rise in new lettings over those expecting a drop fell from +14 per cent in the second quarter to -8% in the third quarter, its most negative level for three years.