The value of the UK's commercial property stock reached an all-time high of £871 billion in 2015, representing 10% of the UK's net wealth, a new report from the Property Industry Alliance (PIA) reveals today.
This is an 11% increase on the 2014 value and has been driven by higher rents as well as the prices investors were willing to pay for a given rent.
The commercial property industry directly employs almost one million people – one in every 35 jobs in the UK.
Mr Hughes said: "This report demonstrates the property sector's fundamental importance to the UK's economy in providing an attractive asset class for investors of all sizes and for the funds serving the nation's savers and pensioners.
"However, we believe more could be done in partnership with the public sector to unlock the wider social, economic and environmental benefits of commercial property investment and development.
This entry was posted in News on October 19, 2016 by British Property Federation.