Euro woes hit commercial property rent

ECONOMIC troubles in the Eurozone have knocked the outlook for the single currency area’s commercial property sector, according to new data.

European states dominate the list of countries in which rents are expected to fall, as measured by the Royal Institution of Chartered Surveyors (RICS) at the end of last year.

Six out of the seven countries with the lowest rental expectations are Eurozone members, including core economies France and Italy.

“The survey also highlights the difference in the developed world between those countries that largely shunned the sub-prime credit boom such as Canada and Germany and those that participated in it,” added RICS’s Simon Rubinsohn. Rents in the UK and the US are expected to fall during the first quarter of 2012.