Commercial Property outlook
Posted: July 19th, 2020, 3:52 pm
More concern about commercial property and REIT values.
https://www.dailymail.co.uk/money/news/ ... alarm.html
£230billion commercial property crash: Treasury watchdog sounds the alarm as millions work from home.
The value of commercial buildings will fall by nearly 14% this year, the OBR says
Transactions in 2020-21 are also expected to plummet by 23.7%
Commercial property prices look set to plunge as white-collar workers shun the office, the Treasury watchdog has warned.
After employees across the country were sent to work from home in the coronavirus lockdown, the Office for Budget Responsibility (OBR) is predicting that the value of offices and other commercial buildings will fall by nearly 14 per cent this year.
The pandemic has also accelerated the decline on the High Street – hitting the value of shops – as families flock online at the expense of brick and mortar outlets.
https://www.dailymail.co.uk/money/news/ ... alarm.html