Tuesday, 24 June 2008
Fancy a London Property
News in today suggest rents on London office space will fall another 20% this year; worse news for owners (errm...usual suspects, banks, pension funds etc) is that 650, 000 square metres of new property is being built over the next 3 years.
Tomorrow the real lay-offs begin at Citigroup UK, with Goldmans having already started the ball rolling by clearing out its M&A and fixed income groups. So even more space will become available.
Still for those looking to get on the housing ladder, it may be that office space could drop far enough to compete with housing rents (albeit in Chelsea...); maybe Alice could finally afford the upgrade.
These good news stories just keep coming and coming.....
Posted by CityUnslicker