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06/11/2007
Report Predicts Rent Rises
A commercial property report for Scotland has revealed that the investment property market has finally hit a long expected slowdown.
The report, published by the property firm Ryden, showed that prices dropped 5 to 10 per cent from their peak, warning that commercial rents could rise as property price rises fail to bring a return for Landlords.
The review also claimed prime office rents in central Edinburgh had risen to £301 per square metre, with the possibility of rises to £323 in coming months, while in Glasgow, they were static at £280-£295.
Dr Mark Robertson, editor of the review, and head of consulting at Edinburgh-based Ryden, said: "It is really as a result of the fact that prices have risen so fast over the past few years that they had to reach a maximum level.
"Rents will have to go up to make up the difference. This could result in some empty properties, although it is clear that there is still a market for property and a number of companies are looking for suitable offices."
(DW/JM)
The report, published by the property firm Ryden, showed that prices dropped 5 to 10 per cent from their peak, warning that commercial rents could rise as property price rises fail to bring a return for Landlords.
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The review also claimed prime office rents in central Edinburgh had risen to £301 per square metre, with the possibility of rises to £323 in coming months, while in Glasgow, they were static at £280-£295.
Dr Mark Robertson, editor of the review, and head of consulting at Edinburgh-based Ryden, said: "It is really as a result of the fact that prices have risen so fast over the past few years that they had to reach a maximum level.
"Rents will have to go up to make up the difference. This could result in some empty properties, although it is clear that there is still a market for property and a number of companies are looking for suitable offices."
(DW/JM)
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