Login to UKBP
Commercial Property News
Investors 'moving back into commercial property market'
Demand for commercial property is on the rise across western Europe, one expert claimed.
Speaking following the release of a report from the Urban Land Institute and PricewaterhouseCoopers that suggested the sector will see some improvement in 2010, senior economist at the Royal Institution of Chartered Surveyors Oliver Gilmartin said that growth seems to be underway.
"What we are really seeing is an investor-led recovery," he remarked, adding that buyers are beginning to move into business property because "they may sense that the bottom of the market is nearing".
Mr Gilmartin added that while the amount of available space is still rising across most markets in Europe, the pace of the increase is slowing and is likely to continue decreasing, which will bring support for rents.
If this carries on, he concluded, the chances of a sustained recovery in the rental side of the market will be higher, as more demand from tenants will help sustain investor appetite.
Speaking following the release of a report from the Urban Land Institute and PricewaterhouseCoopers that suggested the sector will see some improvement in 2010, senior economist at the Royal Institution of Chartered Surveyors Oliver Gilmartin said that growth seems to be underway.
"What we are really seeing is an investor-led recovery," he remarked, adding that buyers are beginning to move into business property because "they may sense that the bottom of the market is nearing".
Mr Gilmartin added that while the amount of available space is still rising across most markets in Europe, the pace of the increase is slowing and is likely to continue decreasing, which will bring support for rents.
If this carries on, he concluded, the chances of a sustained recovery in the rental side of the market will be higher, as more demand from tenants will help sustain investor appetite.
Fri, 5th Feb 2010