Commercial property market now presents a “buying opportunity”


The commercial property market in London may be about to improve, according to a report from the US.

Robert Houston, chief executive at ING Real Estate Investment Management told the Los Angeles Times that prices could even rise in the coming months.

"We think that there is a buying opportunity," Mr Houston said. "We don’t see prices going down any further, and, if anything, they could go up in the next six months."

The paper noted that early investors into the commercial property market came from Germany and from equity-rich and opportunity funds.

Mr Huston said his company was ready to spend money again in the British market, which has seen prices fall in the last year. He also told the Los Angeles Times that the current low was not like the previous fall in the early 1990s.

"The fundamentals are sounder this time, as we don’t see tenant demand falling off," he said.