The All Property Average Prime Yield rose 80 basis points to 7.4% in the fourth quarter, says CB Richard Ellis.
Figures from the agent’s Prime Rent and Yield Monitor show yields were last this high in Q4 of 1993.
The All Property yield is now 170bp higher than at the start of 2008 and 254bp higher than the summer of 2007.
All sectors experienced significant price correction in the fourth quarter.
Retail Warehouses recorded the largest correction with yields moving by 160bp in the period.
Offices, Retail and Industrial all saw yields rise 70bp.
All Property average prime rents fell by 2.7% in Q4, taking the annual figure to -3.5% for 2008.
Peter Damesick, executive director of CBRE UK Research, said: "These latest figures confirm the scale of re-pricing since the upheavals in the financial markets in the fourth quarter.
Average prime yields are now at a 15-year high, which is certainly bringing the property sector to the attention of a range of investors.
"The scale of the re-pricing could help to close the gap between buyer and seller pricing expectations and is likely to present attractive buying opportunities for equity-rich investors targeting the commercial real estate market."