In its quarterly UK commercial property survey for Q4-2022, the Royal Institution of Chartered Surveyors (RICS) reports that 83 percent of its respondents consider market conditions to be consistent with a downturn; 49 percent still consider this downturn to be in the early stages; and only nine percent feel the market has bottomed out in this current cycle.

The all-sector net balance for tenant demand fell to -20 percent in Q4-2022, with the net balance for office at -29 percent, retail at -45 percent and industrial at +6 percent, according to the survey. In the investment market, the survey reports that buyer inquiries fell across all sectors, with a net balance of -30 percent of respondents citing a decline in investment demand.

Last Updated on February 5, 2023 by Ramin Seddiq