JPMorgan Sees City of London Office Values Falling 20% This Year

09/05/2023 05:54
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JPMorgan Sees City of London Office Values Falling 20% This Year

Office buildings in London’s financial district will lose a fifth of their value in the year through March, said JPMorgan Chase & Co. analysts, who stopped recommending clients buy shares of The British Land Co. Plc.

  • Deterioration in asset values may spur disposals, bank warns
  • JPM downgrades British Land after two years at overweight

A delivery driver unloads office furniture in view of St Paul's Cathedral in The City of London, UK.

Photographer: Jason Alden/Bloomberg

Office buildings in London’s financial district will lose a fifth of their value in the year through March, said JPMorgan Chase & Co. analysts, who stopped recommending clients buy shares of The British Land Co. Plc.

City valuations have deteriorated in recent months, with statistics from Investment Property Databank Index showing an 8% decline, analysts including Neil Green said in a note to clients.

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JPMorgan Sees City of London Office Values Falling 20% This Year

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