One real estate agency has forecasted that Rental costs for office business property are probable to increase over the coming 2 years due to a short of high-quality offerings.
Knight Frank predicted that there will be a “strict imbalance” between supply and demand in the funds over the coming time, with the development of technology firms, telecoms sectors, and media rising numbers of Far Eastern companies looking a presence in the city driving take-up.
The company said that prime rents are expected to rise from 9.1 % to £60 per sq ft this year and increase by a further £7.50 in year 2012.
Stephen Clifton of Knight Frank explained in central London, investment property as “the gold bullion of the world property markets”.
“We anticipate all core markets to attain new record headline rental levels,” added leasing partner at the firm Tim Robinson.
Francis Salway , the chief executive of Land Securities lately told the Guardian property development in London is opening to speed up following the economic recession, with a number of new skyscrapers being added to the financial district.
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Most young Scots forced to rent by 2020
