Global commercial property rents experienced the biggest decline in Q2 for five years with surveyor sentiment remaining depressed, according to Q2 2009 RICS Global Commercial Property Survey.
97% more chartered surveyors in both Ireland and Spain reported a fall than a rise in rents and a further 97% expect rents to continue to fall rather than rise over the next quarter. Surveyors in Singapore and the Ukraine were unanimous that rents have fallen with the net balances in both countries reaching 100%. However, Emerging Asia stands out as the regional outperformer with a marked slowdown in the pace of rental declines. Tenant demand in China and India rose for the first time since 2008, with 8% more surveyors reported a fall than a rise in capital values in China, up from 49% i...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
