Northern European commercial property
Northern European commercial property markets 'to see solid growth' Investors who are planning to transfer money online to invest in commercial property have been pointed towards northern Europe.
According to Savills, conditions in this region are relatively favourable when compared to those in the south of the continent. Germany was flagged up as one good option for investors to consider, while prospective buyers were also encouraged to take a look at France and the Scandinavian nations.
Mat Oakley, director of commercial research at Savills, said they offer "reasonably solid rental growth prospects" over the next few years.
This, he stated, marks a contrast to the state of affairs in the "sovereign debt imperiled countries" in southern Europe. He noted some northern nations are experiencing a "gentle" recovery in demand for commercial property at the moment, with growth in rents being fuelled by "significant undersupplies" of available spaces.
"To say that the whole of Europe is facing falling rental growth would be completely wrong," Mr Oakley commented.
Commercial property investors were also encouraged to consider looking beyond European shores for possible options.
Mr Oakley noted that the "major US metro markets are undoubtedly recovering at the moment", with rents picking up in places outside Manhattan. This is despite the fact consumer confidence remains fairly low in the country, as many are questioning the government's "ability to deal with its own sovereign debt problems".
He added that the "equity-rich and relatively debt stable countries of the Pacific Rim" may also offer particularly good prospects to commercial property investors.
This comes after the Royal Institution of Chartered Surveyors noted that the ongoing financial crisis is negatively impacting on the commercial property market in much of Europe. While Germany was identified as one good performer between October and December 2011, the continent in general was said to be losing ground on other markets across the world.