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It can be hard to remember, and if you are new to the sector it is almost impossible to imagine, but as this decade rolled into view, London real estate was on its knees.
After the calamity of Lehman in September 2008, the shares in listed property companies started to rise in March 2009, but for the vast majority of the market, the start of the decade was still a terrible time. You could only lease office space at rock bottom rents, if you had loans maturing it was nearly impossible to find debt and if you needed to sell, there were almost no buyers around except at savagely discounted prices.
The decade that followed has been an incredible one for London and UK real estate. Buoyed by money pumped into the world economy by central banks, real estate prices recovered and then surpassed previous cyclical highs. On the back of the 2012 Olympics, London became one of the world’s truly…
Read the full story here.
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