Interest in property may be resurging |
08 2008 |
| LaSalle Investment Management (LIM) has confirmed plans to raise £400 million to invest in commercial property following the recent property slump. The fund is said to take advantage of the 20 to 30 per cent drop in value of commercial property, and could be the start of a similar trend in the residential market. It will be interesting to see if those looking for a residential property will also take the same view and risk buying while property is cheap. Analysts have widely predicted that house prices will begin to rise between 2011 and 2013, although they are also predicted to drop as much as 24 per cent in the mean time. It is this uncertainty that is no doubt encouraging first-time buyers to hold back from buying a home in the current marketplace, and choosing to rent instead. Renting not only offers young professionals the freedom to move with their job if necessary but also requires a smaller financial risk when compared to the deposit on a first house.  |
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