Moody’s: Commercial Property Prices up 4.3% in September
According to research firm Moody’s, prices for commercial property increased 4.3 percent in September but prices remain more than 40 percent off their peak reached in October of 2007. The increase was the highest ever in the decade that the firm has been tracking prices and represents a growing confidence in the recovery by firms who are in a position to acquire property. However the numbers are somewhat skewed because of high sales prices for landmark office properties and do not necessarily reflect the entire market as a whole.
Even with the increase in prices, vacancy rates remain high throughout the country and are not expected to see a significant decrease in 2011.
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