Research Disclaimer

This disclaimer applies to every report and data deliverable prepared by REL Research.

Nature of the work product

REL Research deliverables are research work product. Each report is a point-in-time analysis based on publicly available sources as of the date stated in the report.

Not advice, not a valuation

Reports do not constitute investment advice, legal advice, or tax advice, and they are not a recommendation to buy, sell, or hold any asset. Reports are not appraisals or valuations under any national or professional standard, including, without limitation, USPAP, the RICS Red Book, or ImmoWertV.

Third-party data

We do not guarantee the accuracy or completeness of third-party data. Every factual statement is referenced with source name, URL, and date so it can be independently checked.

Unverifiable data points

Data points that could not be verified are explicitly marked “not publicly available”. They are never estimated or invented.

Forward-looking statements

Forward-looking statements — including assessments of projected impact on rents or yields — are projections, clearly separated from observed facts. They are not assurances of future performance.

Responsibility

The recipient bears sole responsibility for any decision made on the basis of a report. Where professional advice is required, consult a qualified adviser.

Version 2026-07