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RICS: Significant shift in both current sentiment and expectations indicators
Research - MAY 4, 2020

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RICS: Significant shift in both current sentiment and expectations indicators

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The results of the Q1 2020 RICS Global Commercial Property Monitor show a worsening picture in pretty much all markets and negative readings nearly everywhere. On average, the former (OSI) dropped by 28 points between the two quarters across the universe of countries covered by the survey with the latter (ISI) falling by 24 points. Even if the focus is narrowed to just the larger markets, the decline is of a similar magnitude amounting to 25 and 23 points, respectively.

The deterioration in sentiment between the two quarters has actually been most marked in offices. This is the case both for the OSI, which fell by 35 points, and the ISI, which dropped 29 points. For industrials, the readings did slip into negative territory on both parts of the market but only moderately so. Predictably, the acceleration in the structural trend towards e-commerce is also noted with increasing interest in prime logistics space viewed as a likely outcome.

In terms of some of the

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