DBS Law Ltd

Birmingham commercial property market shows signs of recovery

Birmingham based Solicitors DBS Law has seen significant growth in commercial property transactions in the last six months suggesting a recovery in the market in the West Midlands may be underway.

The property market has been subdued for the past two years or so since the credit crunch began.

“Investors have either been reluctant to take advantage of the many bargains available due to uncertainty over the economic climate or have been unable to take advantage because of difficulties in raising the necessary finance from the banks.  We are seeing a definite change in the climate, our clients have got money to spend on property and they are now ready to spend it in the West Midlands and Birmingham in particular,” said Abdul Zaheed head of property law at DBS Law.

DBS Law has also received an increase in property related enquiries and a rise in investors on the lookout for a bargain buy.  Enquiries have typically been made by established property businesses and new investors some of whom are from abroad.  There seems to be a growing consensus that now is a good time to buy as property prices are unlikely to see any further sharp falls.

Mr Zaheed added “Some of the money is coming in from outside the country. England seems to be an attractive proposition for investors from Countries like China. Investors seem to particularly recognise the potential of the West Midlands as a growth area of the economy and now they’re looking to take advantage of the low property prices in order to cash in before the economy recovers”.