The commercial property market in Wales has seen a decline in economic activity following interest rate hikes and the cost of living crisis, according to a survey from the Royal Institution of Chartered Surveyors (RICS).
The RICS Commercial Property Survey reported that outlook had become more cautious as a result of this slowdown.
It found that occupier demand for commercial property across all sectors in Wales eased, with a net balance of +10% of respondents reporting an increase in Q2 2022, compared to +35% in the previous quarter.
