Property Still Standing

Transactions hold up well over Summer reports Collas Day

Richard Ogier and Jason Green, partners at Collas Day, have been reassured by the solidity of the Guernsey property market over the second quarter of 2008. "If the effect of events in the UK property market are going to make themselves felt here, it seems that will not only become apparent later, any affect may well be less intense. Some of our current activity relates to the working out of long term development projects but we have also seen some very substantial transactions in the Bailiwick, including a number that show an interest on the part of external investors in the hospitality sector here. There have also been a number of Open market transactions which, by their nature are substantial, though the wave of people seeking to relocate offshore that was anticipated earlier in the year did not materialise and seems to be discounted as a factor now. "