Insurance News Archive
'Experience is needed' in commercial property sector
People need to know the industry and should have good advice before entering the property market, according to an expert.
The Property Executive has advised the commercial property sector is "no place for cowboys" or inexperienced developers.
Steve Georgious, director of the property magazine firm, said the people that do well in the commercial property industry are those who have "experience under their belts" and know which companies to use.
He added that with experience developers will come to know which surveyors and engineers are reliable.
"You need good property advice and you need to be talking to the right companies for that advice and if you talk to the wrong companies then you'll end up losing money completely," he added.
The expert's advice is particularly important as, according to IPD, the value of commercial property fell by 1.5 per cent last month, making it harder to make a profit on such projects.
29 Jul 2008
