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Downward trend continues

Action urged to halt slide in investment

David Melhuish 2Scottish commercial property continues to suffer from a decline in investment, particularly from overseas.

New data reveals that sales rose by £200 million in the second quarter, but investment fell 13%, continuing an 18 month trend.

The figures from CoStar UK and the Registers of Scotland prompted Scottish Property Federation director David Melhuish (pictured) to repeat calls for join action by the government and industry to encourage more inflows of investment.

He said: “We generally expect an increase in activity in the second quarter of the year after the traditionally low post-Christmas period, and it is good to see that sales held up in the run up to the EU referendum.

“The continued downwards movement of the investment market should not be overlooked, though, and is a trend that is likely to continue into the next quarter.

“Scotland’s commercial property market relies considerably on inward investment, and as we face an ongoing period of uncertainty, it is more important than ever that government and industry work together to encourage investment in our sector, which is a significant contributor to the Scottish economy.”

 

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