The UK commercial property market is beginning to recover after the pandemic-induced slump, with some big-ticket office properties now on sale. The sale of these properties will indicate the market's bottom and the speed of recovery in deal volumes. New office buildings are in high demand, but older offices may need to be converted or demolished. The COVID-19 pandemic caused a shift to remote work and a desire for higher quality office space. While some properties remain difficult to sell, the market is improving for prime offices, rental housing, and logistics. UK commercial prices are expected to rise this year and outperform other Western markets in the next four years.
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Original article source: https://www.dailymail.co.uk/wires/reuters/article-13985871/Big-UK-property-sales-test-market-appetite-slump.html
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