Written By Are you curious about what the future holds for commercial property? Look no further than Savills’ latest predictions. With innovative technologies and sustainable practices on the rise, Savills sees a bright future ahead for commercial real estate in 2024. From flexible workspaces to eco-friendly buildings, join us as we dive into why Savills is optimistic about the industry’s trajectory over the next few years.
The current state of commercial property
According to Savills, the current state of commercial property is very positive. They believe that the market is currently undervalued and that there is a lot of potential for growth in the sector. They also predict that interest rates will remain low for the foreseeable future, which is good news for investors.
Savills’ predictions for the future of commercial property
1. The future of commercial property is very bright, according to Savills. They predict that the demand for office space will continue to grow, especially in the tech and creative industries. They also believe that there will be more interest in smaller towns and cities, as businesses look to escape the high costs of London.
2. Savills predicts that investment in commercial property will continue to grow, as it is seen as a safe haven in uncertain economic times. They believe that Brexit will not have a major impact on the sector, as demand for office space is driven by factors such as employment growth and business confidence, which are both strong at the moment.
3. The experts at Savills believe that the commercial property market will continue to evolve, with new types of space being created to meet the changing needs of businesses. For example, they think that we will see more co-working spaces and purpose-built student accommodation being developed in the coming years.
4. So, if you’re thinking about investing in commercial property, now could be a good time to do it! Savills’ predictions suggest that the sector is set for strong growth in the years ahead.
The reasons behind Savills’ predictions
There are a number of reasons behind Savills’ predictions for a bright future for commercial property. Firstly, they point to the fact that the UK economy is currently in a good place, with strong growth and low inflation. This is creating an environment in which businesses can flourish, and this is likely to lead to increased demand for commercial property. Secondly, they highlight the fact that there are currently very low interest rates, which makes borrowing money to invest in commercial property much more affordable. Finally, they point to the fact that the UK population is continuing to grow, which will lead to increased demand for all types of property, including commercial.
How to invest in commercial property
There are a number of reasons to invest in commercial property, and Savills predicts a bright future for the sector. Here are some tips on how to get started:
1. Do your research
As with any investment, it’s important to do your research before you commit to anything. This means understanding the risks and potential rewards of investing in commercial property.
2. Consider your financing options
Investing in commercial property usually requires a significant amount of capital. As such, you’ll need to carefully consider your financing options before proceeding.
3. Work with a professional team
When it comes to commercial property, it’s important to work with a professional team who can guide you through the process and help you make informed decisions along the way.
Conclusion
In conclusion, commercial property looks set to have a bright future in 2024 according to Savills. With the rising demand for office space and the increasing importance of online presence, the market is expected to be more resilient than previously thought. The government’s fiscal support packages may also help cushion any downturns, making this an attractive prospect for investors looking for long-term returns. Commercial real estate remains a good investment option as it continues to outperform other asset classes over time, so why not get ahead of the curve and make your move now?
