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Clock Ticks On £300bn Commercial Property Loans

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British banks are expected to follow their American counterparts, which are already having to bite the bullet on commercial real estate losses.

A collapse in values of more than 40 per cent in less than two years means that almost every British commercial property loan granted since 2004 is under water, according to Savills, the estate agency.

This gloomy forecast was reinforced by another report that confidence in global commercial property markets has deteriorated in the past three months as rents — regarded as a key property market indicator — dropped by the steepest amount on record.

Half of the UK’s £300 billion commercial real estate loan book needs to be refinanced over the next two to three years, said Savills but, it adds, there is only capacity in the market to absorb £20 billion per year.

Green shoots?I don't think so.

More at http://business.timesonline.co.uk/tol/busi...icle6728251.ece

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