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UK commercial property market slumps

Staff Reporter 1 minute read

Confidence in the UK commercial property market has hit a four year low, with the global credit crunch listed as one of the key contributors.

Nearly 30 per cent of real estate brokers reported a fall in investment demand in the office sector over the third quarter of 2007, while a further eight per cent expect a drop in market activity in the coming quarter as the recent financial turmoil forces investors to re-price risk.

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Royal Institution of Chartered Surveyors (RICS) chief economist Simon Rubinsohn said: “The turmoil in the credit market is being most acutely felt in commercial property as the sector is more dependent on capital market funding than in the past.

UK commercial property market slumps
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