Scottish commercial property market growth beats UK average | 10 February 2014
Scotland’s commercial real estate market showed more growth than the UK as a whole in 2013, business7.co.uk reports.
According to data from property firm Cushman & Wakefield, the total value of commercial deals in Scotland reached £2.07 billion, marking an increase of more than 80 per cent on the previous year’s figure.
For the whole of the UK, investment volumes rose by £19.1 billion to reach just over £50 billion – an increase of 60 per cent.
According to costar.co.uk, the latest figures from Scotland are the highest the country has seen since 2007, when transaction values broke the £3 billion mark.
Cushman & Wakefield’s managing director of Scotland, David Davidson, also suggested that further growth could be seen this year. He explained: “This has been one of the busiest starts we have ever had to a new calendar year and leads us to a very positive outlook for 2014.
Mr Davidson went on to suggest that, despite many people’s expectations, the Scottish Independence Referendum is barely affecting investment in the country. He said: “Whilst some investors may be trying to reduce their holdings in Scotland, there are far more players who are prepared to bid at closing dates to secure high quality assets which have not been available elsewhere in the UK outside London.”
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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