The rate of rental growth in all sectors up to July 1st last slowed somewhat in comparison to last year's growth, according to the Lisney/UCD Rental Indices. The report shows that modern office rentals grew by 5.9 per cent over the first half of the year, highlighting the strong demand for space. This compares to 13.4 per cent for the 12 months to up January last. Georgian office rents, which rose by 36 per cent last year, ended the six months up to July at a similar rate to modern offices, up 5.9 per cent.

The study also showed that retail rents rose by 2.3 per cent compared to 7.5 per cent for last year. Overall, Lisney's composite measurement showed that rents rose by 4.2 per cent in the first six months compared with 5.8 per cent for the same period in 1998 and 14.2 per cent for 1998.