Savills - Residential Figures Good
Written by JDPGlobal | Friday, 01 July 2005
Market volumes are not expected to be at the exceptional levels achieved in 2004 in the property market, but consultants Savills PLC said residential order booking is encouraging and it is well placed to meet the company's expectations for 2005.
Giving a trading update, the company said that the commercial property investment market throughout the UK remains strong and the first half has seen a high level of transaction volumes, while its pretax profit was marginal compared to last year.
The company has seen a marked increase in activity in the commercial and residential investment markets in Asia, while tenant demand for office space has also increased.
At the same time, European investment teams are performing well and the markets remain strong. The Consultancy business has also been good, with the demand for property services remaining high.
Savills, which will release its first half results on Sept 7, is expected to put up a good show with private client financial services business continues to perform well and transaction volumes ahead year-on-year.
Organic growth, acquisition and key recruitment seems to be the main plus points for the UK and European commercial property management business.
