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Commercial property market looking good, says RICS

04 May 2005
The Royal Institute of Chartered Surveyors (RICS) revealed yesterday that the commercial property market was looking strong in March.

The April edition of the UK economic brief from the RICS suggests that commercial property saw positive growth last month across most sectors.

The occupier market tightened as demand picked up in most regions of the UK, the RICS finds, with surveyors feeling increasingly optimistic about the rental outlook.

London saw the sharpest rise in occupier demand, boosted by a strengthening office sector and rising corporate profits, the RICS indicates.

Whilst rental yields did still fall according to the RICS, the pace of decline was the slowest since August 2003.

The chartered surveyors' organisation cites a lack of investment in commercial property, partly owing to the reintroduction of stamp duty land tax in disadvantaged areas, as a reason for the relative slowdown in commercial property investment.

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