Commercial property investors 'should return to the market'

An expert has claimed that commercial property investors should consider returning to the market now.

Felix Rigg of King Sturge has claimed that those "waiting in the wings" must take note of the auction sector, where there remains demand for quality buildings despite the economic downturn.

In an interview with the Financial Times, the head of auctions for the firm explained why he felt investors should consider bidding for property.

"To me, the time to buy a property investment is right now – while prices are still falling and the market is at its softest – rather than later," he told the newspaper.

Mr Rigg added that by leaving it late, efforts to find "a bargain" can be "more urgent by the sense that recovery may be just around the corner".

Recent research by the International Property Databank found that the capital value of commercial property fell by 4.3 per cent in October.

The decrease is the largest monthly fall in the organisation's 22-year history.