Boost in Welsh commercial property demand commercial mortgages

04 May 2007

Increasing signs of demand are being seen in the Welsh commercial property market as a growing number of businesses set their sights on the market and look for appealing commercial mortgages and rental opportunities.

Statistics from the Royal Institution of Chartered Surveyors (Rics) highlights the fastest growth in demand for some seven years over the past 12 months, fuelled by increased profitability and positive economic factors.

It has been predicted by commercial property consultant Robert Chapman that prime office rents in Wales are on track to hit £20 per square foot, reflective of a strong performance in the market at large.

"A strong economy and increasing profits in Wales have encouraged businesses to continue to seek out commercial premises in Wales," explained Cathy McLean of Rics Wales to the Western Mail.

"Fears that commercial property investment would ease back have been unfounded with increased building of commercial properties."

Rics reports that demand for commercial property in the UK has accelerated at its fastest pace in over five years, with all regions posting strong performances.