UK Money News
8th January 2008
Commercial property 'could hold opportunities' if market stabilises
Consumers considering seeking help with money through investment in commercial property might like to choose their markets carefully, in light of the latest comments from one industry body.
The Royal Institution of Chartered Surveyors (Rics) states that the retail and office sectors are most likely to suffer as a result of a recent downturn in the wider market.
However, it adds that opportunities may exist in offices should the markets start to settle.
Oliver Gilmartin, economist at Rics, said: "In the direct market I think we will continue to see downward pressure on prices during 2008 as the drag from credit market disruption overhangs the global economy".
Commercial property has been affected substantially by turbulence in the wider financial markets, according to figures from Knight Frank.
The firm believes that in the south-east of England prices may have fallen by 26 per cent.
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