Plunge in US commercial property
By Daniel Pimlott in New York
Published: May 20 2008 20:34 | Last updated: May 20 2008 20:34
Commercial property prices in the US in February saw their sharpest decline since records began nearly 15 years ago as sources of finance for deals has dried up, according to data from Standard & Poor’s out yesterday.
The value of commercial buildings fell 1.03 per cent between January and February, the largest monthly decline since at least 1993, when the industry was just emerging from a deep slump.
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