Insurance News Archive
Developers 'positive' about commercial property in Scotland
Commercial property developers in Scotland are not overly concerned with risks and are positive about the future of the market in the country, according to an expert.
Steve Georgiou, director at Property Executive, which releases two bi-monthly magazines covering the areas, says clients in the nation are more content than those in the north of England and London.
He states most developers are continuing to commit to commercial property deals in Scotland and do not seem to be suffering, although the country's residential market has taken a downturn.
Mr Georgiou adds: "I can compare it with the north of England where there's a much gloomier face. It's certainly not sounding as positive in the north but Scotland is very positive."
He went on to say commercial property is a better investment than buying in the residential sector at the moment.
The UK Monthly Property Index, released by IPD, shows commercial property returns fell by 1.5 per cent in June, twice the 0.7 slide in May.
30 Jul 2008
