Property deals to be halved as values collapse

Investment into commercial real estate will have more than halved by the end of the year, a property consultant has predicted, as investors and funds withdraw from the market following dramatic falls in values.

Jones Lang LaSalle said that it expected £21bn (€24bn) of direct investment to be spent on commercial property by the end of 2008. This is a 55% fall on last year when there were £48.5bn of deals.

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