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21/07/2009
Commercial property law demand may rise as sector eases |
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The commercial property sector is seeing a moderation in the decline of rental rates, the Royal Institution of Chartered Surveyors (Rics) has said.
In its latest commercial property survey, Rics found that tenant demand, while still falling, was doing so much less in the second quarter, as this trend "eased back markedly".
The survey showed that the office sector had turned into positive territory, with one per cent more surveyors seeing a rise in demand than recorded a fall.
Such trends may indicate that the market is close to bottoming out.
Those keen to deal in commercial property at this time may wish to speak to a commercial property solicitor first.
Last week, property economist at Capital Economics Kelvin Davidson said the "worst of the downturn of capital values is behind us".
He predicted areas like Westminster's Oxford Street could be the most prime areas for property investment in the near future.
Written by Anthony Dyson
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