Thursday 23 December 2010

London Property Leads World as Rising Rents Lure Money - Bloomberg

London’s commercial property market will probably draw the most investment for the second consecutive year as prospects ofrising rental income attract cash from as far afield as Hong Kong, Qatar and Canada.

Sales of existing commercial property in the U.K. capital totaled $13.9 billion in the first nine months, more than in any other city, according to Real Capital Analytics Inc. Some of the biggest deals of the year were announced in the final quarter.

“There’s a massive surplus of investment capital looking for a home, and the one thing in common is a desire for yield,” Dan Fasulo, RCA’s managing director, said in an interview. “A core London office property at a 5 or 6 percent yield looks fantastic against the alternatives.”

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