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Q1 RICS survey shows resilient US CRE sentiment, but downside risks ahead

The Q1 RICS US commercial property survey reported steady investment sentiment. That is in line with our belief that the market is headed for an upturn, although the impact of new tariffs and the limited fall in interest rates mean that recovery will be weak. The survey also showed a less positive expectation from the respondents on the industrial sector, aligning with our view.

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