Commercial rents are expected to dive this year as the fallout from the pandemic takes its toll.
A poll by the RICS has found that surveyors outlook for office and retail rents is as negative as it was during the 2008 financial crisis.
Rents for prime office space are expected to fall by 4%, while secondary space is expected to drop by 7%. Retail rents are predicted to fall by between 10% and 14%.
Tenant demand has fallen across all sectors, including industrial, which recorded its first negative response since 2012.