The results of the recent comprehensive spending review (CSR) are likely to be welcomed by real estate investors looking to capitalise on the London property market. At least this is the view of GM Real Estate which claimed that the austerity measures had been received "fairly positively" so far.
Indeed, Tony McCurley, partner at the company, explained that a number of individuals felt the announcement was "prudent", adding that it did not prompt an immediate "adverse reaction" from the financial markets.
"Most people take the view that [George Osborne] has done the right thing. It is too early to tell as to what the longer term consequences are, but it has been received so far fairly positively," Mr McCurley said.
Meanwhile, Jones Lang LaSalle recently reported the news that London has returned to its position as the most attractive European market for real estate investment. The city dropped to eighth place in 2009 but has now managed to overtake last year's winner, Munich.
- Wednesday 27 October 2010