Figures show office demand is rising

February 2004
Building Design;2/20/2004, Issue 1613, p21
Trade Publication
The Royal Institution of Chartered Surveyors (RICS) has found that the number of property-related enquiries is growing and that rents may begin to rise for the first time in two-and-a-half years. Also, the favorable incentives that businesses are offered to get them into a building such as low initial rents are becoming more difficult to negotiate. The RICS is running a series of seminars to help property-related companies understand the new money laundering regulations, which come into effect as of February 2004. During the final quarter of last year more surveyors reported a rise in demand for commercial space than those reporting a fall. Although the positive balance was a mere 4 percent, this contrasts with a negative balance of nearly 40 percent two years ago. This news supports findings from the CBI and GVA Grimley that showed private companies were planning to increase their property holdings over the first half of this year.


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