4
Feb
UK property 'an attractive investment'
British property has become an increasingly "attractive investment"
over the past two years, one industry expert has claimed.
Oliver Gilmartin, senior economist at the Royal Institution of
Chartered Surveyors, commented that the UK's property market is
better placed to provide returns on investment compared to some of
its European counterparts.
He put this down to the exchange rate of the pound against the euro
and the turnaround in the UK's property industry that has been
quicker than many on the continent.
Mr Gilmartin also noted that the lack of development within the
London market over the past two years has started to become
apparent in terms of rental expectations, particularly with the
grade-A quality space that has not been entering the market.
On January 5th, King Sturge asserted its belief that prime central
London commercial rents will rise by 10.5 per cent by the end of
this year.
Meanwhile, property consultancy Knight Frank predicted that prime
city rents will grow by 19 per cent during 2010.