Commercial rents tipped to fall 30%
11-12-2008
The real estate consultancy firm, C B Richard Ellis, expects rents of commerical properties in prime retail districts to fall by up to 30 percent next year because of the weakening economy. It also expects office rents to decline 25 percent, while luxury residential prices would fall 20 percent from current levels. Despite this, the company says the property market could start stabilising in the second half of next year.
