Industrial Property in Wales – Do We See a Promise?
Saturday, February 6th, 2010
A research report from the Royal Institution for Chartered Surveyors (RICS) has stated that there is an increased demand for property in
The demand for industrial property and office space is reported to have risen in the final quarter of 2009, with a continual decrease in demand for retail space. Among the three quarters, the demand for office space was said to be the highest all through the fourth quarter.
Twenty-five percent of the chartered surveyors involved in the research report stated that the final quarter saw a rise in demand for office space, while twenty-nine percent stated that the third quarter saw a considerable fall in office space. The third quarter saw an incline in the amount of office space versus the fourth quarter, where there was a decline in the same.
Surveyors say that the rent desk market has now started to look up, with the rates becoming more stable. However, there is an expected decline – a steady one but not as harsh, in rents over the next three months. Surveyors employed with stable projects have said that the fourth quarter saw a considerable increase in the number of office space developments. They have reported a large decline in the overall demand for space, and have said that the retail space in
While figures seemed to be more promising in the third quarter of 2009, twenty-five percent of the surveyors reported that there was a heavy decline in inquiries in the fourth quarter of 2009 as compared to the third quarter.