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Commercial Property News
London commercial property market 'is improving'
London has been identified as one location where investing in commercial property could prove beneficial.
The British capital, along with Munich, Paris and Hamburg, was singled out in a new report from PricewaterhouseCoopers (PwC) and the Urban Land Institute.
According to the Emerging Trends in Real Estate Europe 2010 study, investor sentiment in the city has "improved significantly" since 2009, with the increasing number of purchases being made by Asian and Middle Eastern buyers helping to bring correction to the business property market.
Offices were cited as being the most popular type of commercial property for sale or rent and some interviewees expressed optimism that their development plans for London will begin to go ahead in 2011 at the latest.
PwC's John Forbes noted that there is a "sense of cautious optimism" surrounding the real estate market this year.
"Sentiment regarding investment prospects has stabilised and although sentiment regarding development continues to decline, it is a less dramatic fall than that witnessed last year," he remarked.
A recent report from Jones Lang LaSalle reached the same conclusion, with the firm stating that London is leading the European property market recovery.
The British capital, along with Munich, Paris and Hamburg, was singled out in a new report from PricewaterhouseCoopers (PwC) and the Urban Land Institute.
According to the Emerging Trends in Real Estate Europe 2010 study, investor sentiment in the city has "improved significantly" since 2009, with the increasing number of purchases being made by Asian and Middle Eastern buyers helping to bring correction to the business property market.
Offices were cited as being the most popular type of commercial property for sale or rent and some interviewees expressed optimism that their development plans for London will begin to go ahead in 2011 at the latest.
PwC's John Forbes noted that there is a "sense of cautious optimism" surrounding the real estate market this year.
"Sentiment regarding investment prospects has stabilised and although sentiment regarding development continues to decline, it is a less dramatic fall than that witnessed last year," he remarked.
A recent report from Jones Lang LaSalle reached the same conclusion, with the firm stating that London is leading the European property market recovery.
Tue, 2nd Feb 2010