Society of Chartered Surveyors Ireland report finds 42% expect to see a decline in office rental values of up to 10%Some 53 per cent of the 325 surveyors included in the Society of Chartered Surveyors Ireland study expect prime office capital values to decline by up to 10 per cent this year,A majority of chartered surveyors see prime office capital values dropping by up to 10 per cent this year, while 42 per cent expect a similar fall in prime office rental values, a new report has found.
The report from the Society of Chartered Surveyors Ireland found 53 per cent of chartered surveyors believe the market is in “early downturn” – up 15 per cent from last year – with a further 22 per cent reporting that the cycle is in “mid-downturn” phase. Some 53 per cent of the 325 surveyors included in the study expect prime office capital values to decline by up to one tenth this year, while just under half expect prime retail capital values to fall by up to 10 per cent.
On prime office rental values, 42 per cent expect to see a decline in values of as much as 10 per cent, while one in three surveyors forecast they will remain the same.
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