The commercial property market in London
enjoyed a dramatic rise in activity during 2010, with the total transaction levels reaching close to GBP10 billion. According to research from property agent Cushman and Wakefield, around GBP9.97 billion worth of transactions were completed over the course of the year.
Overall, the total represents a 50 per cent increase on the GBP6.6 billion worth of deals struck in 2009, with overseas demand making up 66 per cent of buyers.
Clive Bull, head of central London investment at Cushman and Wakefield, told the Telegraph: "Demand remains strong from both domestic and overseas investors as London continues to be perceived as a relatively safe haven for investment.
"The annual total is well up on that of 2009, though nowhere close to the volume average of over GBP16 billion of the buoyant market during 2005-2007. With sterling still weak and an increase in stock likely with banks off-loading assets, we are confident that 2011 will see volumes continue to rise."
- Tuesday 04 January 2011