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Commercial Property News
Commercial property recovery 'has a long way to go'
Business advisory firm BDO has warned that a business property recovery during 2010 is not guaranteed.
According to the company's latest Commercial Real Estate Review, there are still potential problems ahead for the sector despite the improvements that were seen during 2009, Property Week reports.
Solly Benaim, head of real estate at BDO, predicted that the sector will see "a long, slow recovery"
He explained that the forthcoming election, ongoing unemployment worries, limited consumer spending and concerns over increasing taxes all "have the potential to undermine the commercial property market".
However, Mr Benaim was quoted as saying that there are "reasons for optimism", as the net balance of developers and contractors in the commercial property industry seeing increased trade rose for the fifth consecutive month at the end of 2009.
The comments came after Chris Bamberry of Scottish Widows told the Guardian earlier this week that the second half of 2010 may bring new challenges for the market.
According to the company's latest Commercial Real Estate Review, there are still potential problems ahead for the sector despite the improvements that were seen during 2009, Property Week reports.
Solly Benaim, head of real estate at BDO, predicted that the sector will see "a long, slow recovery"
He explained that the forthcoming election, ongoing unemployment worries, limited consumer spending and concerns over increasing taxes all "have the potential to undermine the commercial property market".
However, Mr Benaim was quoted as saying that there are "reasons for optimism", as the net balance of developers and contractors in the commercial property industry seeing increased trade rose for the fifth consecutive month at the end of 2009.
The comments came after Chris Bamberry of Scottish Widows told the Guardian earlier this week that the second half of 2010 may bring new challenges for the market.
Fri, 5th Feb 2010