Lamport Bassitt Solicitors - Legal News - Caution expressed over commercial property prospects


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Caution expressed over commercial property prospects Although it is expected that the commercial property market in London will see some improvements this year, caution must still be exercised, it has been suggested. According to a report by the Urban Land Institute (ULI) and PricewaterhouseCoopers, while there is some credit easing and property values are stabilising, the sector faces a "long, slow haul" to recovery. High unemployment and low consumer spending were cited by investors, developers, financiers and property managers as two factors which will hold commercial property back. "We are looking at a crawl back up the hill and how much values recover will depend on where Europe ends up economically against global competition," stated ULI Europe chairman Alexander Otto. Meanwhile, investor sentiment regarding London was said to have improved "significantly" from last year. Founded in 1936, the ULI is a non-profit research and education organisation with members from the public and private sectors in 95 countries across the globe. Related Articles: 30/3/2012 - EPC changes to affect buy-to-let landlords 27/3/2012 - Rent increases drive strong buy-to-let yields 27/3/2012 - Property industry welcomes 'sensible' planning reforms 2/3/2012 - Arla advises landlords to 'invest wisely' 1/3/2012 - Basel III could hit commercial property lending More Property Law News