Commercial Property Market Review | March 2024

The Chancellor’s Spring Budget has been mostly met with disappointment from the commercial property industry, particularly those who are currently seeking property development finance or a commercial mortgage – one major announcement is the end to multiple dwellings relief (MDR) from 1 June 2024.  In the last three years, Chinese property developers have sold £1.4bn worth of UK real estate, data from MSCI has found. With Britain now ‘the top European investment location’ according to INREV, Chinese developers may be capitalising on buyers returning their attention here in hope of an investment opportunity. Carter Jonas predicts that 2024 will see more investment transactions than last year but will still be lower than the long-term averages. Read the latest commercial property news in our Commercial Property Market Review.