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Commercial property defaults are expected to rise in the next 12 months, according to a new survey.
The poll by Investec revealed, of the 86 per cent of property professionals who said defaults will increase, a third believe they will rise significantly.
However, only four per cent think banks will stop lending altogether. "This reflects our view that while we are undeniably operating in tougher market conditions today, we’re optimistic that strong lending opportunities remain," said head of structured property, Paul Stevens.
The survey recorded further positive results. Only 36 per cent of the property professionals questioned think recession is either likely or very likely nearly a quarter (23 per cent) believe it is unlikely.
Mr Stevens advised: "The key to obtaining finance in the current environment is to have a successful track record and the ability to add value."
The Telegraph has reported four Qatari state-backed investors are readying up to £5 billion to invest in UK and European commercial property.