Positive signs in Commercial Property market
12th May 2009
Recent indications that the rate of decline in the commercial property sector is slowing are encouraging, according to one expert.
Ed Stansfield, property economist at research consultancy Capital Economics, said that the findings from commercial real estate service firm CB Richard Ellis show that it is "better news" for the sector.
Those with commercial mortgages may be working in a tough economic environment, but the signs of improvement will be welcomed.
"People anecdotally have been talking about an upturn in commercial property sentiment, and sentiment among investors, for a while now," said Mr Stansfield. "A more moderate rate of decline is fully consistent with that."
His comments come after the Royal Institution of Chartered Surveyors (Rics) reported this month that, although there was a slower rate of decline, activity in commercial property fell further in the first quarter of 2009.
Rics said the proportion of surveyors reporting a rise in new sales compared to the number reporting a fall stood at minus 40 during the period
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