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Commercial Property News
London office market leading UK property recovery
The business property recovery in London is being led by increasing interest in office space.
This is according to the Royal Institute of Chartered Surveyors (Rics), which has released its latest Global Property Survey.
It noted that the amount of office commercial property for rent or for sale declined for the first time in two years in the capital during the final quarter of 2009.
However, elsewhere in the country, availability of real estate continued to rise, suggesting that demand outside of London is still lagging.
Simon Rubinsohn, chief economist for the body, said that the results indicate "the improvement in investor appetite is being accompanied by a firmer tone to the rental market".
He added that this is a "key" part of ensuring the current recovery in the sector is sustainable.
Opinion is split on whether commercial property can continue to bounce back.
A recent Reita study argued that the climb will level off later in the year, but Mark England of BNP Paribas recently stated that there is no sign that the bubble will burst.
This is according to the Royal Institute of Chartered Surveyors (Rics), which has released its latest Global Property Survey.
It noted that the amount of office commercial property for rent or for sale declined for the first time in two years in the capital during the final quarter of 2009.
However, elsewhere in the country, availability of real estate continued to rise, suggesting that demand outside of London is still lagging.
Simon Rubinsohn, chief economist for the body, said that the results indicate "the improvement in investor appetite is being accompanied by a firmer tone to the rental market".
He added that this is a "key" part of ensuring the current recovery in the sector is sustainable.
Opinion is split on whether commercial property can continue to bounce back.
A recent Reita study argued that the climb will level off later in the year, but Mark England of BNP Paribas recently stated that there is no sign that the bubble will burst.
Thu, 28th Jan 2010