Property Firms Warn Over Values on UK Commercial Real Estate
- Tech firms are pulling back on expansion plans, Derwent says
- Savills sees risk of a short-term slowdown in activity
Clouds over the Canary Wharf district in London
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Rising borrowing costs and a cloudy economic outlook are starting to weigh on the property market.
There is upward pressure on yields for commercial properties in London, landlord Derwent London warned, meaning prices may fall. Some buildings in the capital that had been offered for sale have now been withdrawn, the firm said in a statement on Thursday.