Distressed property strong for private wealth management?

Private wealth management through the acquisition of distressed property may be a common move, as one specialist reveals interest has risen significantly in recent months.

Andrew Burrell, partner in research at property consultancy King Sturge, notes such a choice "is obviously one of the more risky investments, but it may be … more lucrative".

Firms engaged in private wealth management could advise clients to choose the option as the top end of the market is beginning to recover, with the specialist observing central London in particular has regained much of its lost value.

On Monday (November 22nd), the Royal Institution of Chartered Surveyors revealed interest in purchasing distressed properties is up significantly around the world, with real estate professionals in 20 countries claiming demand rose in the three months to September 30th, compared with 11 in the preceding quarter.

And private wealth management experts in countries with ongoing public deficit problems may be among those most in favour of the strategy, as Ireland and Spain experienced the biggest surge of interest.  ADNFCR-2318-ID-800253646-ADNFCR