Long term attitude vital to investment says expert - commercial mortgages

16 June 2008

In news that may interest those who are thinking of taking out commercial mortgages, an industry expert has advised of the need to make sure such activity is undertaken with the long-term in mind.

Writing in the Press and Journal, chartered financial planner Barry O'' Neill said: "It should be noted that property is an illiquid asset class and, as has been noted recently, does not lend itself to short-term speculation."

However, he noted that in the view of Fiona Rowley, fund manager at M & G property portfolio, the worst of the recent downturn is over and long-term annual property returns should average between five and seven per cent.

One location where there may be many potential long-term property gains to be made is around the London Olympic sites.

The Confederation of British Industry has argued that businesses need to get involved more in delivering a lasting economic legacy for the area beyond the 2012 games, Retail Bulleting reports.

Such a legacy may have a positive impact on the property market in the area.