Friday, Jun 15, 2007
Prices have fallen in commercial property
FT: Cracks show in secondary retail market
According to this year's closely watched Midsummer Retail Report from agents Colliers CRE, transactional prices have fallen sharply from last summer on "secondary" properties; by about 10 per cent. More alarmingly, Colliers predicts a further fall in prices of the same order by the end of the year. Andre James, head of investment at Colliers, said: "There has been a dramatic turnaround since the start of this year, really since Christmas." A factor in the new climate is the jump in interest rates in the past year, which has reversed the prices buyers are willing to pay.
Posted by confused76 @ 11:07 PM (148 views) Add Comment
2 Comments
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1. talking rot said...
I do not have a subscription to the FT.com and could not view the article.
Is it posted somewhere else?
2. confused76 said...
Sorry folks!
It was not subscription only when I read it last night. At any rate, the article was reporting a drop in "secondary" (i.e. not "prime") commercial property prices, which has followed the rise in IRs