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Chart of the Day: Rents for all property sectors feared to slide this year
Rental values will drop by 5.8%.
Surveyors expect island-wide rents for all property classes to drop significantly this year.
According to a survey by RICS, respondents expect rental values to fall by 5.8% over the year, with all segments feared to see a substantial decline.
Secondary office rents will drop the most with an estimated 7.65 decline, followed by secondary industrial rents with a 6.4% drop. Prime industrial rents will be most resilient this year.
"The office sector is expected to slightly underperform all others and RICS lead indicators suggest that price falls will accelerate in coming quarters," the report said.
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