Tuesday, Feb 27, 2007
Hammerson echoes warning on valuations
Telegraph: Hammerson echoes warning on valuations
Hammerson added its voice to recent warnings that the upward shift in property valuations in recent years has run its course. But the shopping centre and City office block owner promised a 25pc hike in the dividend this year and a £5bn development programme.
John Richards, chief executive, said: "Following the recent rises in interest rates … the positive differential between property investment yields and borrowing costs has been largely eliminated or reversed, reducing the attractions of property to some debt financed investors."
He warned that "secondary property remains potentially more vulnerable to any market weakness".
Posted by cash_buyer @ 12:09 PM (171 views) Add Comment
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