Just less than half — 49% — of real estate investment management executives believe commercial real estate prices will drop in the next 12 months, while 38% think they will hold steady, according to results of a quarterly survey by FPL Advisory Group on behalf of The Real Estate Roundtable.
Of the 100 CEOs, presidents and board members surveyed, 95% said access to debt financing has been reduced and 74% stated access to equity capital has been reduced from one year ago. Sixty-three percent indicated that conditions are worse for their companies, and 85% stated conditions are worse for the real estate industry overall.
The survey was taken during the first two weeks of July.
