Outlook for commercial property market "more positive"
Property professionals
6th July 2009
The market for commercial property is improving and mortgages are becoming more available, an expert has suggested.
Michael Aglony, marketing manager at Mortgages for Business, noted that Base Commercial has started lending again and the firm has seen a 171 per cent rise in commercial cases between the first and second quarters of 2009, making the commercial sector "more positive" than many other areas of the market.
Mr Agolony was speaking after a report by Cushman and Wakefield indicated that investment in the central London commercial property market rose to £1.4 billion in the second quarter of 2009, a 110 per cent increase on the first three months of the year and the first rise in two years.
He commented that it represented a "massive increase" in business in the sector and added that the commercial mortgages market is "starting to open up", which may interest insurance for buildings customers.
According to Cushman and Wakefield, £1.43 billion was invested in central London's West End and City & Docklands markets in the second quarter of 2009 compared with £679 million during the previous three months.
For more information on how Giles can help you with your business insurance, Click here.
