'Optimism exists in commercial sector' - commercial mortgages

04 August 2009

More confidence is being shown in the commercial property sector, according to Steve Georgiou, director at industry magazine publisher Property Executive.

The expert said that, having spoken to people involved in the sector, there appears to be an upbeat mood about what the future holds.

"Whereas they were very doom and gloom at the beginning of the year, even the first couple of quarters, I believe that now, with people looking ahead to the autumn and winter period, [they] are probably a little bit more optimistic with what the future holds," Mr Georgiou explained.

Those with commercial mortgages have seen the value of buildings drop in recent times.

Last month, the Investment Property Databank reported that UK commercial property capital values have fallen continually for the last two years.

However, capital values apparently declined by 0.9 per cent in June 2009, which was the smallest drop since August 2007.

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