#Commercial property #market #bounces #back Britains commercial property market has begun to blossom, according to figures from CoStar Group. Investment in commercial property reached a six-year high of £12.7bn in the third quarter and then increased by a further 50% in the final quarter, topping £19bn. Annual commercial property investment volumes reached £53bn in 2013, the highest figure since 2007. CoStar said that just over half of the cash spent in the UK came from domestic investors; while of the remainder, buyers from the Middle East and Far East were most numerous with £9.2bn-worth of deals. Mark Stansfield, CoStar senior real estate analyst, said: The combined factors of a low interest rate environment, easing eurozone instability, the UKs economic turnaround and the wall of money coming from overseas created a tsunami effect, leading to an annual figure that few would have predicted at the start of the year. CoStar also revealed that average office yields dropped from 8.8% to 8.5%, while industrial yields are down from 9.8% to 9%.
Posted on: Thu, 23 Jan 2014 09:46:08 +0000
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