Those looking for offices to rent may find the commercial property market does not make a full recovery to its pre-recession state for 15 years, it has been suggested.
Research from BNP Paribas predicted values in the commercial property market may not reach the higher levels of 2006 and 2007 until 2025, with capital values set to remain flat overall until 2012.
During the ongoing economic crisis firms may find it beneficial to reduce their own workload by opting for a serviced office from the range available by Office Space in Town.
Kelvin Davidson, property economist at Capital Economics, said: "[Values] are down about 30 to 35 per cent from where they were at the peak in 2007."
He added that with the potential for an average growth of two per cent per year then it is "probably not implausible" the commercial property market will take 15 years to reach pre-recession levels.
