Insurance News Archive
Commercial property insurance holders see investor activity rise 70%
Posted by Michael brown
Commercial property insurance policyholders saw investor activity rise by 70 per cent across the global market in the fourth quarter of 2009, according to a report.
The Royal Institution of Chartered Surveyors (Rics) reported that commercial property transactions rose across most the world, with Brazil and China leading the way.
It said that investors have returned to buying commercial property due to the relatively high yields on offer.
The London office market led the way in the UK and the amount of available space has declined for the first time in two years, according to Rics.
However, elsewhere in the UK, commercial property insurance policyholders have not seen such success, as available space has continued to rise.
"Crucially, the improvement in investor appetite is being accompanied by a firmer tone to the rental market. This is key to ensuring that the recovery proves sustainable," said Rics chief economist Simon Rubinsohn.
Another recent Rics report found that 14 per cent of chartered surveyors reported a rise in tenant demand for commercial property in the fourth quarter of the year.
27 Jan 2010
