Expert claims London's commercial property market is soon to improve

27 January 2012

Written by Gavin Elley

The commercial property market in London should begin to improve during the last six months of 2012, an expert has predicted.

Jones Lang LaSalle head of forecasting Andrew Burrell said this will happen "when a more normal level of demand returns".

People with mortgages for business in the capital may wish to prepare for "quite a strong bounce", which he anticipated will happen at the beginning of 2013.

Currently, the city's market is weak and investors are not willing to do the things they would if it was more confident, the specialist declared.

However, the property industry is not like it was towards the end of 2008, "when it just completely stopped", Mr Burrell stated.

Corporations will still need to move to new premises and deals will continue to be made, he remarked, noting opportunities might be concentrated towards "the bottom end of the market".

In recent month, the "main change" in the London commercial real estate market has been the crisis in the eurozone, the expert had previously argued.