RICS Property Investment Forum 2024

The RICS Property Investment Forum was set up in response to the global financial crisis (GFC) and convenes up to four times a year. Its purpose is to inform RICS on the key areas in which the property investment industry seeks their leadership and support in adapting to the challenges and opportunities ahead to sustain a liquid, transparent and efficient UK property investment market.

The input to these debates is provided by a range of industry leading speakers, including the RICS chief economist, industry researchers, valuers, advisers, local and global asset allocators, developers, occupiers and accounting advisers. The debate draws on the views of senior industry participants such as capital providers – both debt and equity, local and global public and private markets – investors with risk appetites from core to opportunistic, investment advisers and occupiers.

The output of this forum regularly informs meetings with government and the wider industry. It has effected change in the marketplace – such as the recommendation to RICS’ Standards and Regulations Board for an independent valuation review, which the board supported, and was chaired by Peter Pereira Gray.

The January 2024 meeting focused on the challenges presented by the perceived funding gap that has arisen between investors who can no longer extend loans without significant further equity and investors seeking a price that reflects a fundamental repricing of UK property investments as the cost of debt and inflation has increased and geopolitical risks have heightened. Many will be aware that the normal sources of capital that help recapitalise a market are sparse at present, especially in the listed markets.

A lot of detail is reviewed and debated in the forum discussion. This publication summarises the outputs of this meeting.

Phil Clark, chair