New enquiries in Wales' commercial property market were lower than expected at the end of last year as inflationary pressures on the economy saw tenants become more cautious.
According to the latest Royal Institution of Chartered Surveyors (RICS) commercial property monitor, conditions in the market fell further in Q4 of 2022 as the industry faces a challenging economic environment.
The survey found that demand from both occupiers and investors was lower in the quarter across all sectors of the market in Wales. Overall tenant demand in Wales fell to a net balance of -29% in Q4 2022.
