Commercial property transactions reached a six-year high in 2013, with the figure of £44.7bn marking an increase of 31% on the previous year.
- Commercial property spending reached six-year high in 2013
- Total spend of £44.7bn, 31% higher than in 2012
- Foreign investors spent £20bn, £14.2bn of which was in London
Commercial UK property transactions reached a six-year high in 2013, reaching £44.7bn, according to data from DTZ.
Nearly half of the year’s total was spent in the final quarter, resulting in a year-on-year increase of 31% on 2012’s figure of £34.1bn.
A focus on larger deals in 2013 also saw 120 deals worth at least £100m take place.
More than half of the overall total was spent outside London, the opposite of the situation experienced a year previously.
Foreign investors spent £20bn in 2013, with £14.2bn of that total concentrated in Central London – although investment into other regions also increased.
Asian investors were the biggest foreign buyers of property in 2013, acquiring £4.6bn, with the majority in the capital.
“Domestic investors’ willingness to spend matched the improving economic picture in the UK throughout 2013, resulting in their outlay increasing by 42% compared to 2012,” said Richard Yorke, Head of UK Research at DTZ.
DTZ predict that around £20bn of additional international capital is currently looking for opportunities in London alone.