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21/05/2009
Britons 'expecting bottom of commercial property market soon' |
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The bottom of the UK commercial property market is widely perceived as being close, real estate firm Knight Frank has said.
Managing director of the European section at the company Christopher Bell commented that Britain is closer to the bottom of the market than the rest of Europe, which has led to greater confidence at home than on the continent.
He said that UK investors are "more comfortable" with the notion that the market only has a little further to fall, concluding: "It is closer to bottoming out certainly and therefore, by definition, closer to turning up."
Those keen to invest at this time may wish to consult a solicitor before doing so.
British markets such as central London may be seen as particularly attractive as an investment proposition if it is set to see recovery sooner than other markets, since recent figures have indicated a major decline in worldwide commercial property values.
The latest survey on the subject by the Royal Institution of Chartered Surveyors found that there was an acceleration of the decline in values internationally.
Written by Pauline Adams
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