The UK has emerged as one of the brighter parts of the global commercial property market amid hopes that the worst of Britain’s property downturn is behind it, surveyors’ findings suggest.
Other countries, meanwhile, are still experiencing a dizzy pace of collapse.
The UK was one of the first markets to peak in the summer of 2007. A substantial fall in prices of more than 40%has resulted in surveyors beginning to report greater optimism about future capital value growth.
Even so, the short-term outlook remains depressed, according to the global property survey from the RICS released today, with about 60% more surveyors expecting a fall than a rise in capital values – albeit a lesser number than previously.