Commercial property experts expect transaction rise
An increasing number of commercial property experts say they can see a light at the end of the tunnel as they are predicting an end to the drop in sales prices and rental rates for office spaces, shopping malls and stores in the second half of the year.
The first signs of an improvement in the market started emerging in the latter half of 2013 with an increase in investment moves in the market, as surveys showed that the amount of commercial property transactions for the whole of 2013 exceeded 1 billion euros. Forecasts for this year put transactions even higher.
Property services company NAI Global says in a report that 2014 will prove to be the year of stabilization for the prices and rental rates of commercial properties, with the market recovery to happen soon. This means there are plenty of opportunities at the current low prices as buyers will be able to make the most of the price rise in the near future.
In its annual report, Eurobank Properties estimates that “commercial property market expectations for 2014 are improved on 2013 and the years before as transaction volume is set to grow.”
