On September 27th, Reuters reported that London's struggling office market is currently facing a "rental recession." This situation has arisen because of a 30-year high in vacant office spaces within key business districts like the West End, City, and Canary Wharf in the UK capital. This trend is putting pressure on the stock prices of various prominent property owners.
At the UKREiiF event held in May, a prominent real estate gathering in the UK, the prevailing discussions among property experts within the halls of the Royal Armouries Museum in Leeds centered on subdued transaction levels, persistent inflation concerns, and the increasing interest rates.
Demand for properties in the office sector in London is starting to rise at the same time as supply falls, according to reports.
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