Rics: Q2 saw drop in tenant demand for commercial properties
Date posted: 23 Jul 2010
This year's second quarter saw a decrease in tenant demand for UK commercial properties, research has shown.
Published by Tim Hill.
In the second quarter of 2010, the UK's commercial property sector witnessed a decrease in tenant demand, new figures have indicated.
According to the latest UK Commercial Market Survey published by the Royal Institution of Chartered Surveyors (Rics), seven per cent more surveyors saw demand decline in the three-month period, instead of increase.
Meanwhile, 38 per cent more of the survey's respondents said that they saw a decrease rather than growth relating to office property demand.
Senior economist at Rics, Oliver Gilmartin, believes that budget cuts may have had an impact on the second quarter figures.
He stated: "Falling stock markets, worries over both the eurozone debt crisis and the sustainability of the recovery appear to be weighing on occupational demand from large multinational occupiers."
The Scottish retail and office commercial property markets saw tenant demand increase more than other parts of the UK in the second quarter, Rics has also suggested.
Please contact Michaela Henson, Head of Property for further information or call 01223 225178 
Click here to email or call on 0207 382 8060.
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