News - Midlands
Long haul ahead for commercial property market
It could take up to seven years to clear the backlog of problem property deals, an expert has warned. Ian Marcus, managing director in the investment banking division of Credit Suisse, spoke at the Midland lunch of the Investment Property Forum held at the Hyatt Hotel in Birmingham. Marcus said the bubble would correct itself in time. “But it will be a five- to seven-year long haul,” he predicted. London, he noted, was on another level to the regions: “It is a very different world and a very different market in London – it is governed by global capital flows.”