Commercial Property Development in London Essay

commercial-grade Property Development in London - Essay ExampleA report by Ball, Lizieri, and Macgregor (2012, p.41) depict that the city has witnessed a faster growth of commercial properties in the novel past. In this regard, the report showed that many an(prenominal) property developers have been targeting central London as the best place to put up a commercial property. Nevertheless, this growth in commercial property, in London, is taking place at the backdrop of the recent financial crisis that did affect the U.K. adversely. Research has shown that the recent financial crisis of 2007/2008 did affect all the economic sectors in the people including the property market, which dropped to an all-time low as many people could not afford to invest in commercial properties due to lack of enough funds required for the project. In fact, the U.K. is still struggling to happen from the effects of the financial crisis, by introducing measures aimed at improving the state of the del iverance such as enterprise up the country for investments. OKelly (2012) noted that the economy of the U.K. shrunk by about 4.9% in 2009 due to the effects of the 2007/2008 financial crisis. In fact, the economy of the U.K. has not been able to experience any significant improvement since then. however recently, in 2012, did the economy registered a growth rate of about 1%. However, economists remain positive that the economy is on the right course and is likely to enjoy significant growth over the next fewer years. However, as earlier stated, central London has overcome all these odds and has been experiencing increased growth in commercial property development over the last six years.