The recession is over and London seems to be rejoicing. The CB Richard Ellis group has released a report that shows that the city of London is bouncing back after the recent credit crunch.

The main cities that faced a crisis during the recent recession were London, New York, Hong Kong and Tokyo. These cities were also the first to bounce back. This change was noticeable from the second half of 2009. the demand for office spaces is mainly from international investors as they are trying to make the most of the weak pound.

The Head of the research team on the UK division of CB Richard Ellis stated that the rise for rent desk space in the city of London will continue during the rest of the year as well as next year. The rents will continue to remain high during 2011 and 2012 as the demand for properties will exceed the supply.

At the onset of the global recession on 2007 most employers were forced to downsize and make employees redundant. This led to bank accounting for losses as high as $1.25m.

The recession led to rents being reduced to half after 2007 and it continued to show a decline until 2009.

The report stated that the only players that invested into commercial properties in the city of London were the Bank of China Ltd., Allianz SE, and Bank of Tokyo-Mitsubishi UFJ Ltd.

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