Insurance News Archive
Commercial property insurance to centre on quality in 2012
Increasing numbers of commercial property insurance quotes could be prepared in 2012, especially for top quality buildings, according to the head of forecasting at Jones Lang LaSalle.
According to Andrew Burrell, from the property experts, has suggested that the need for banks to get their money back from investments means that safer bets and quality property will be in demand.
Areas of the market which have enjoyed a strong recovery or are perennially popular such as London as well as quality ventures will attract interest and funding, Mr Burrell claims.
Mr Burrell said: "The banks, or whoever is running the show in terms of these disposals, are going to be interested in getting the money back.
"You would think that would be in the strong markets where there has been a stronger recovery, such as London."
A survey from Bloomberg News recently revealed that six economists, analysts and executives all predicted a decline in UK commercial property values in 2012.
Posted by Judith Stevenson
30 Dec 2011
