22
Oct
"Good news is welcome" in commercial property market
Estate agents may be finding that they have seen sales of
commercial properties pick up, according to the comments of one
expert.
Director of policy (real estate) at the British Property Federation
Ian Fletcher said that it has taken time for the sector to recover
after the declines experienced over the past two years.
However, it is now showing a much more positive outlook and "any
good news is welcome", he stated.
Mr Fletcher also advised that property demand is currently focused
on the primary market because "there is a lot of excess stock in
the secondary market".
"There is a differential in the marketplace between both levels,"
he added.
Earlier this month, Knight Frank revealed that London is the most
expensive city in Europe for renting prime office, distribution or
shopping centre space.
This is despite the costs of rent in the European sector falling by
almost 12 per cent over the past six months.