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Property owners and investors affected by eurozone crisis
25 Jan 2012
Andrew Burrell, head of forecasting at Jones Lang LaSalle, has suggested that the crisis in the eurozone has made a big impact on the commercial property market over the past few months.
As well as the impact of eurozone, Mr Burrell claims that the regulatory changes involved in the UK's banks has meant confidence has hit both investors and owners.
This is a problem not just in London, but across the UK, according to Mr Burrell, although offices in the capital may be slightly more outward-looking and in response are more exposed to global trends.
Mr Burrell said: "With the bank regulation side of things, [it has been] known that it is in the pipeline. It was known before, so I am not sure that is a massive additional impact.
"I think the eurozone is the main change over recent months."
Jones Lang LaSalle is a financial and professional services firm, specialising in real estate services and investment management.
Posted by Michael Brown
