The latest RICS Construction Survey showed the first contraction in workloads since the height of the COVID-19 pandemic in mid-2020. Weakening demand and rising financing costs are cutting profits and causing developers to pull back. With the economic recession set to cut demand further this year, profits will continue to come under pressure and workloads are set for further declines.
Drop-Ins: Property markets in 2023: We’re holding two special 30-minute briefings on the 2023 housing and commercial property outlooks on Tuesday, 17th January, covering first the UK and Europe and then the US. Click below to register for either or both sessions:
UK/Europe outlook (09:00 GMT/17:00 SGT)
US outlook (11:00 EST/16:00 GMT)
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.