Demand for commercial property sees 'modest' rise

OCCUPIER and investor demand for commercial property in Wales edged upwards in the first quarter of the year, according to new research from the Royal Institution of Chartered Surveyors (RICS).

- SION BARRY

Its latest commercial property monitor shows a positive net balance of 5% of Welsh surveyors reported a rise in overall investor demand through the first quarter (Q1) of this year, which is the highest this balance has been since March 2022.

Looking at the sub-sectors, the industrial sector outperformed office and retail with a net balance of 21% of surveyors reporting a rise. Investor demand for office space was said to have fallen flat, and a net balance of -8% of Welsh respondents reported a fall in investor demand for retail space.