Commercial property in London 'is an attractive investment'

Banking and financial services companies could find London an attractive place in which to purchase commercial property.

Global property fund manager LaSalle Investment Management placed the UK capital in third place on a list of the best European cities for investing in real estate.

Charles Maudsley, spokesman for the group, noted that while London has been overtaken in the rankings by Munich and Paris, it remains a "very attractive" place in which to invest.

"Yields have expanded well beyond fair value even allowing for the weak demand outlook," he commented.

London's slight drop in the rankings was attributed to its proximity to recent problems in the banking and financial services industry, although its size and wealth ensured it stayed in the top ten.

This comes shortly after Z/Yen Group's latest Global Financial Centres Index ranked the British capital as the most competitive financial hub in the world for the third year in succession.

Updated: 30 September 2009.
Categories: banking-and-financial-services, market-and-industry-news.