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Demand for commercial space grows by fastest rate in five years
RICS report finds industrial space driving soaring demand with office space also seeing a recovery
Demand for commercial space grew by the fastest rate in five years in the second quarter of this year, according to a new report by the Royal Institution of Chartered Surveyors (RICS).
A balance of +16% of respondents to the RICS survey, which is for the second quarter, reported growing occupier demand, compared to -5% in the last survey, marking the strongest uptick since 2016.
Confidence appears to be rising across all commercial property sectors, with most respondents - 56% - saying they now sense that conditions are consistent with an upturn. This is compared to 38% in the RICS first-quarter survey.
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