Welsh Office Space - A Bone of Contention for Surveyors in Wales?
The Royal Institution for Chartered Surveyors (RICS) has stated in one of its reports that there is an increased demand for commercial property in
The final quarter of 2009 reported a steady rise in demand for industrial property and office space, and a continual decrease in demand for retail space at the same time. The demand for office space was said to be the highest all through the fourth quarter, as compared to the other three quarters of 2009.
While twenty-nine percent of the chartered surveyors involved in the research report stated that the third quarter of 2009 saw a considerable fall in the available office space, twenty-five percent of them stated that the final quarter of 2009 saw a rise in demand for office space.
With the rates to become more stable, surveyors are of the opinion that the rent desk market has now started to look up. However, they say that they expect to see a steady, but a less-harsh decline in the rents over the next three months. Surveyors who were employed by stable projects have said that the fourth quarter of 2009 saw a considerable rise in the number of office space developments.
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, while figures seemed to be more promising in the third quarter of 2009.
