British commercial property capital values fell 2.4 percent in 2016, hurt by changes to stamp duty tax and Britain’s vote to leave the European Union, a real estate firm said on Tuesday. Retail property capital values saw the largest fall, declining 5 percent from a year earlier, while offices dropped 2.5 percent. Industrial property capital values rose 1.5 percent compared with 2015.
Capital value refers to the probable price that would have been paid for a property at the date of valuation. Rental values rose 1.7 percent on the year but remain below pre-Brexit vote levels. The annual total return for UK commercial property investment was 2.7 percent.
Read more: Reuters
