| Industry News |
|
| News » Commercial Property Law » Commercial property 'to recover slowly from recession' |
|
22/12/2009
Commercial property 'to recover slowly from recession' |
|
Commercial property will only recover gradually in the near term as it is likely to be feeling the effects of the recession even after the economy starts growing again, it has been predicted.
Director of policy for real estate at the British Property Federation (BPF) Ian Fletcher said: "The commercial property sector was late at going into the recession but later coming out of it. The nature of the sector means that it tends to feel the after effects of the recession."
He stated that features such as retailers going out of business have a lagging impact on the sector.
Mr Fletcher also noted that banks will lend less to firms looking to acquire such real estate, with chief executive of Royal Bank of Scotland Stephen Hester telling the BPF conference in May that this would be the case.
Those engaging the services of a property lawyer may find other ways of financing and refinancing their portfolios.
According to a report by Jones Lang LaSalle, the latter activity will be a major source of funding for property purchases in the near future.
Written by Anna Norton
 |
| |
| Related Articles |
08/01/2010
Office demand 'to focus on London'
The commercial property market will recover strongly in London in 2010, in contrast with the rest of the country, it has been predicted.
|
18/12/2009
Commercial property market 'to pick up in 2010'
The use of commercial property lawyers in 2010 may pick up in the south-east as it has been forecast that the region will see matters improve as the year wears on.
|
16/12/2009
Business confidence increases
The use of business lawyers may be set to increase as a poll of firms has shown that levels of confidence are rising.
|
14/12/2009
New tax rule to "irritate" large commercial landlords
A tax break for cheaper empty properties is "welcome", but those who might use the services of a property lawyer for commercial transactions will go on being "irritated" by the commercial property rate tax they will still have to pay on large ones, it has been argued.
|
23/11/2009
West End property 'outperforming rest of UK'
The commercial property market is set to recover faster in places like London's West End than in the country as a whole, it has been stated.
|
News Archive