According to a new report published today by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI), London is the top location in Europe for property investors to buy new commercial property.
London was also named the fifth best place for new commercial property developments in the coming year, which is an improvement of 18 places on its ranking last year.
The factors that allowed London to storm ahead in terms of commercial property
investment included the weakness of the pound, compared to the euro, and the scale of the decline in property prices.
PwC and ULI surveyed over 600 industry players to gather the figures. These included investors, developers, and bankers who were questioned about their attitudes towards investing in locations including Paris, Istanbul, London, Munich and Hamburg. Barcelona, Moscow and Madrid were all seen as among the riskiest markets, while, for the second consecutive year, Dublin was seen as the most risky place in which to invest in commercial property development.
The new survey backed up an earlier one by Association of Foreign Investors in Real Estate, which also found London to be the top location, beating New York and Washington DC.
