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Commercial Property Market Holds Firm

LONDON-The near boom conditions of last year may be over, but the UK business property market held firm in the first quarter of 2001, said the Royal Institution of Chartered Surveyors.

By Graham Parker | Updated on May 08, 2001

LONDON-The near boom conditions of last year may be over, but the UK business property market held firm in the first quarter of 2001, said the Royal Institution of Chartered Surveyors.

Chartered surveyors reported growth in occupation of commercial floor space, with 7% more respondents seeing a rise in sales and lettings than those reporting a fall, up from a 2% difference in the final quarter of last year. Gloomy global economic forecasts have as yet failed to have any impact.

The shortage of available floor space eased slightly over the first quarter of 2001, but chartered surveyors’ rental expectations remain on a par with the previous three month period. Take up of office space in London slipped slightly for the second quarter in succession, but this is in comparison with an exceptionally strong market last year.

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