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Forecasts for 2022

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Our 2022 forecasts for the commercial property sector include a survey of senior opinion from across the business.


  • GDP will continue recovering, but disappoint in Q1, due to business and consumers uncertainty related to lingering pandemic worries, increasing international and domestic political instability, inflation and the unpredictable global monetary policy response.

  • Investment volumes will reach £65 billion driven by pent-up demand from overseas buyers and pent-up supply from pandemic hesitant sellers. Resilient occupier demand and rental trends will continue to attract a diversity of investors. Yields will remain stable, with further compression across all prime segments.

  • Office occupancy of 75% will be the norm of 2022 as companies continue to take stock.  Industrial take-up will top 40 million sq ft for a third consecutive year driven by e-commerce operators. Demand for retail stores will prove strong especially in prime commuter high streets.

  • A corporate stampede to Net Zero will continue to change all markets fundamentally, increasing the risk of ‘stranded’ non-compliant assets.  Institutions will sell smaller assets with poor ESG/MEES credential providing a ready market for investors to acquire, refurbish and relet.

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Forecasts for 2022

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Walter Boettcher

Head of Research and Economics

Research and Forecasting

London - West End

I am the the Chief Economist at global property advisors Colliers International based in London.  I am a research economist identifying timely research topics and directing research and forecasting outputs.

I have over 20 years UK and European property industry experience and extensive expertise across a wide range of property sectors and related industries.

I participate regularly in industry panel discussions, but am focused more on direct client engagement with institutions, property companies, banks, and private investors. A regular media commentator, I have a wide range of national and broadcast experience.

I joined Colliers International in August 2007 after several years at a private property company where he was responsible for managing a mixed portfolio of London residential, retail and office assets.

Previously, I worked in a few London property advisory firms, a geodemographic company as well as a few youthful sojourns in the US offshore oil industry, local government and entertainment business.

I am an economics graduate of the University of Texas at Austin and received his PhD from the Faculty of Science at University College London.  I am a member of Lambda Alpha International and the Society of Property Researchers.

Perhaps best known for my alternative take on property economics and investment, I am a keen proponent of UK regional development and infrastructure investment.

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