Commercial property market facing 'cautiously optimistic 2010'

Investors should be cautiously optimistic about what 2010 will hold for the commercial property market, according to a new report.

Research by LaSalle Investment Management has revealed that falls in values across the world have halted, while confidence is beginning to rise, reports Property Magazine International.

It claimed that while investors have reasons to be risk averse, the coming year will see more rational pricing and some major opportunities emerging in the form of distressed assets.

Jacques Gordon, global strategist at LaSalle Investment Management, told the news provider: "Overall, investors in commercial real estate should be cautiously optimistic about the outlook in 2010.

"However, as a late cycle participant in the general economic recovery, real estate will behave differently from other asset classes."

Research published by the Royal Institution of Chartered Surveyors revealed that 80 per cent of areas across the globe have seen an increase in distressed sales in recent times.