Global real estate returns will remain low, the outgoing head of property investors Grosvenor, has claimed.
Jeremy Newsum told Reuters the UK’s commercial property market was unlikely to recover this year.
He explained that global markets were "more tied together than they used to be" and real estate globally was entering a period of lower returns.
Several new funds have emerged looking to capitalise on lower prices of commercial property in London.
"The temptation to think that this must be the moment to do a good deal is always there," Mr Newsum told Reuters, "but I suspect that at the end of the year we’ll look back and realise that the best thing to do was to do absolutely nothing."
Commercial property values have struggled since the US sub-prime crisis, although London remains a popular location for new developments and city offices.