Demand still rising for office space in London
There has been a marked increase in the demand for office space in London in recent months, and according to research, that isn’t set to end any time soon.
RICS UK Commercial Market Survey found that increases in demand were seen by ten per cent more of the surveyors than previously. In recent quarters many of the surveyors, who are working to build office space in the Greater London area, have seen decreases in demand.
The results of the survey showed significant regional variation, with London outperforming all other parts of the UK in terms of demand for office space.
Rental expectations have also been increasing in the capital. They now stand at their highest rate since the third quarter of 2007.
Financial News recently reported that more office space would be needed to fulfil demand than that which was currently being built in the capital.
The London Office Cranes Survey suggested that major shortages would be experience by 2014 if production was not stepped up in London.