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28/07/2009
Legal business may rise as UK commercial property hailed |
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Britain's commercial property market is one of the better ones at the moment, the Royal Institution of Chartered Surveyors (Rics) has said.
The Rics Global Commercial Property Survey for the second quarter found that values around the world continued to decline in the second quarter, albeit at a slower pace.
However, the picture in the UK was relatively favourable compared to elsewhere in western Europe, according to the report.
This noted: "The UK was one of the most improved [markets], seeing the steepest rise in investment bidders per property in the region."
Such a situation could mean that a growing number of investors may seek the services of a commercial property solicitor.
Earlier this month, property economist at Capital Economics Kelvin Davidson said the worst of the falls in capital values were "behind us", tipping locations like Oxford Street in Westminster to be major centres of UK activity in the sector.
Written by Anthony Dyson
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