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Commercial property recovery sustainable, says BNP Paribas boss
BNP Paribas has moved to allay fears that the current growth seen in the UK's commercial property sector may end soon.
Speaking at the firm's annual property presentation in Paris yesterday (January 21st), chief executive of the firm's real estate operations in the UK Mark England said that the recovery currently taking place "is not a bubble", Property Week reports.
He stated that yields in the business property sector have been steadily climbing over the past few month, but there is no indication that this trend will end.
"There is room for further improvements in 2010," Mr England was quoted as saying,
He added that he expected "a return to strong growth in the UK market" next year, as expansion over the coming months may be limited by increasing pressure on public sector finances.
Figures released earlier in the week by the Investment Property Databank showed that there was a 3% rise in the value of commercial properties during the final month of last year, the biggest increase for 16 years.
Speaking at the firm's annual property presentation in Paris yesterday (January 21st), chief executive of the firm's real estate operations in the UK Mark England said that the recovery currently taking place "is not a bubble", Property Week reports.
He stated that yields in the business property sector have been steadily climbing over the past few month, but there is no indication that this trend will end.
"There is room for further improvements in 2010," Mr England was quoted as saying,
He added that he expected "a return to strong growth in the UK market" next year, as expansion over the coming months may be limited by increasing pressure on public sector finances.
Figures released earlier in the week by the Investment Property Databank showed that there was a 3% rise in the value of commercial properties during the final month of last year, the biggest increase for 16 years.
Fri, 22nd Jan 2010