December 11, 2008
Property Investment Down
Story link: Property Investment Down
Its hardly suprising though. Who in their right mind would be purchasing properties at todays value, when tomorrows value is likely to be a whole lot less?
Jones Lang LaSalle said today it expects around £21bn of direct investment in commercial real estate in the UK by the end of this year which is down 55% on last year’s total.
Julian Stocks, JLL’s head of capital markets, England, said: ‘We are back at 2000 trading levels. Some prices have fallen up to 50% since the peak in 2007. The first few months of 2009 may see further price reductions as rents fall, however, later next year conditions could change.