The impact of rising interest rates on real estate investment trusts hit portfolio valuations at two London-listed REITs today, revealing that the industry-wide dip in investment demand is continuing.
As central banks lift interest rates, the yields on offer from safer investments rise, drawing money out of other parts of the market. This has knocked portfolio valuations for property companies, even as rents on shops and offices have rebounded as commuters and consumers return to the office and the high street after the pandemic.
