Rising interest rates, attractive relative returns from the bond market, and the rising cost of debt will help bring asset prices down by an average of 22% in the 18 months following the market peak in 2022, according to Deutsche Numis, the research house.
Most offices fared worse, with price declines of around 30%.
Deep Dive: REIT sector focus matters even as sharp discounts abound
Share prices of UK REITs reacted accordingly, with average discounts expanding to nearly 25% as demand slumped.
Now, 18 months later, there are signs the tide is beginning to turn.
There has been …