London Rental Property is Most Expensive
Friday, February 5, 2010
LONDON office rental market is the most expensive in the world. However, as well as the best place in Europe for property investment. It is a survey compiled by PricewaterhouseCoopers (PwC) LLP.
The decline in the value of sterling and the scale at relatively low prices make London managed to beat Munich. In the last two years the price of offices in central London has decreased by 50 percent, or greater than most other kotakota Europe. Value for money in the UK also has become more attractive to foreign investors. Because the value of a depreciating pound for 25 percent of the trade.
According to the Investment Property Data Ltd (IPD), in 2009 the value of property in the London office increased 4.4 percent. "The worst may be over and under the restriction has been achieved to London," said PwC head of Real Estate, John Forbes, at a presentation in London.
IPD estimates in the second half of last year, sales offices in central London until the 6 billion pounds (USD13, 5 billion). The condition was more than doubled from the previous six months. In November last, the National Pension Service of South Korea spent 1.04 billion pounds to get a big office in Canary Wharf and two other buildings.
According to DTZ Holdings Plc, stop falling rental values in the last quarter of the West End. It allows London to regain its status as a rental place in the world's most expensive location for office space.
Last year rents range from EUR 21,420, plus other fees and taxes as well as provide space for one worker in the West End. Last month, Land Securities Group Plc and Great Portland Estates Plc, announced that they will start construction work on six new projects in the West End. Both anticipate the possibility of lack of office space will raise rents.
For two consecutive years, Dublin offers the worst prospect for new investors. Surveys show Moscow and Spain in Barcelona and Madrid are also avoided because it is considered as a risky market. Munich and Hamburg judged to offer the best return already owned buildings. This despite the return bermunculannya various industries and the increasing level of exports in Germany after the world trade recovered. Both followed Istanbul as the best place to start development projects.
Paris is in third place on the prospects of existing investments. One place higher than London because it relies on the financial services company for office tenants. Europe can reach the property capitalization rate (annual rental income as a proportion of the price or value of the building) which began to improve in 2010.
Throughout Europe, was concerned about waning demand and the influence of tenants views on the prospects of development. That's because the perceived fragility of the economic recovery of Europe and the scale of real estate loans.
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