Surging interest rates have not been kind to commercial property investment activity, which recently slumped to a 10-year low. But there are some reasons to think transactions will see a decent, if not spectacular, recovery in 2024. Falling interest rates will be the main driver, which will improve property valuations and help to stabilise capital values. With evidence of investors and lenders waiting in the wings, we expect investment will rise by close to 20% y/y in both 2024 and 2025.
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