Office real estate investment value in Central London, England 2010-2023, per quarter
The office real estate investment market experienced the weakest year on record in 2023. The value of capital allocated to office real estate in that year stood below five billion British pounds - about three billion British pounds below the 2020 figure. In 2013, which was the strongest year on record, the market saw over 18.5 billion British pounds in investment. Brexit, hybrid work, and the unfavorable economic climate are some of the major challenges which contributed to the decline in investment sentiment in the past five years. Vacancy rates stood above 10 percent in many London districts in 2023, showing a decline in occupier demand.