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Global Economic Turmoil Puts Property in the Spotlight

LONDON-If you want to get your money out of shares and it needs a home, put it into property. GVA Grimley says it is as safe as houses.

By Charlie Jacoby | Updated on July 04, 2002

LONDON-Turbulence in the world’s money markets, further exacerbated by Worldcom’s announcement this week, has highlighted the relative attractiveness of property as an alternative investment medium. That’s the conclusion of research by property adviser GVA Grimley.

Rob Bould, head of investment at GVA Grimley said: “There has rarely been a better time to put money into bricks and mortar–if you can find the stock.

“While occupational demand–and therefore rental growth–has been weakened by the recent downturn in the global economy, the sheer weight of money from private investors, institutions and overseas funds is driving yields down to a level which looks unrealistic – unless you compare the returns to alternative investment classes.”

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