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Commercial property down 22 percent

Commercial property values fell by a smaller-than-expected 1.6 percent in August but remain on a downward spiral and have now fallen by an average 22 percent since peaking in June 2007, data showed on Friday.

The benchmark data from Investment Property Databank was based on a sample of 3,695 properties owned by property fund managers and property firms with a combined value of 40.81 billion pounds.

A spokesman for property services firm CB Richard Ellis (CBG.N: Quote, Profile, Research), one of IPD's biggest contributors, said on Tuesday that British capital values fell by 2.1 percent in July.

Source: http://uk.reuters.com/

Print   2008-09-17