We now expect West End office rental values to fall by 5%y/y this year, by 15% in 2009 and by a further 5% in 2010. This is in spite of the well-documented absence of a significant pipeline of new floorspace supply in the West End office sub-sector, and is a downgrade from our previous forecasts of flat rents this year and declines of 5% in 2009 and 3% in 2010. This would simply add to the ultimate scale and duration of the continued downturn in overall commercial property prices.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services