London named among top five EU property hotspots | 21 May 2013
London has been named as one of the top five commercial property investment locations in Europe, ipinglobal.com reports.
New research by PricewaterhouseCoopers (PwC) has claimed that the “dark days” of the recession were largely over, bringing about a time of investments and expansion.
PwC said that between 2007 and 2012, much of the focus was on survival, with businesses hoping to ride out the economic storm without having to shrink or shut down altogether.
With such economic uncertainty now consigned to the past, it claimed businesses can now look forward to expansion. Thus, 2013 is already being hailed as the year for “refocusing, repositioning and renovating.”
In light of this, PwC named five economic hotspots in the EU where the business property market was thriving. There were London, Paris, Munich, Vienna and Rome.
Noting its office take-up of 2.5 million square feet in Q1 – the highest quarterly total recorded since 2010 – as well as sustained annual growth of 28 per cent, PwC named London as one of the best locations in Europe for investment.
Commenting on the significantly more hospitable business landscape emerging in 2013, a PwC spokesperson told ukmediacentre.pwc.com: “Business confidence, profitability and real estate investment intentions are noticeably better for 2013. Only a small minority of respondents foresees conditions worsening.
“There is nothing we can do about the Eurozone, but we can manage the risks and focus strategy around the medium-term trends – demographics, technology and urbanisation.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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