Scotland's commercial property market very positive, expert says

Scotland's commercial property market is "very positive" at the moment, particularly when compared to the north of England, Property Executive says.

Director Steve Georgiou, states that commercial property in the north of England had "much more of a gloomier face" than in Scotland.

He went on to say that most Scottish developers were not overly concerned with the risks and were "all fairly positive about what the future holds on the commercial property front."

"With commercial property, most of the developers I speak to are still extremely positive and are busy doing up the deals so Scotland doesn't seem to be suffering too badly," he comments.

"Commercial is the way at the moment, without a shadow of a doubt there's more of a positive outlook."

The IPD UK Monthly Property Index for June 2008 shows that commercial property returns fell by -1.5 per cent, more than twice as much as May.

However, according to research commissioned by Investec Private Bank's Structured Property Finance division, the majority of property professionals believe commercial property valuations will stabilise before the end of the year.

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