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Monday, February 09, 2009

UK: Demand for Office Space Falls Sharply

by Calculated Risk on 2/09/2009 08:31:00 AM

From the Financial Times: Demand for office space falls at record pace

Demand for offices and shops has fallen at the fastest pace on record, spelling further trouble for commercial property landlords struggling to find tenants in worsening economic conditions.
Most of the headline indicators of commercial property performance tracked by Rics fell to their lowest levels in the survey’s 11-year history in the fourth quarter, with particular pessimism in the retail sector where almost four-fifths of surveyors reported a fall in demand.
"Demand falling at a record pace" ... Just another "record" being set, this time in CRE.