The JCC held their annual Property Outlook event earlier this month at the Palace Hotel.

The response to the event was fantastic and once again the JCC was inundated with requests for tickets. In attendance were a number of private developers, principals and investors from property companies, representatives from local advocate practices, and members of some of our major banks and financial institutions, together with interested members of the general public.

JCC had arranged for two speakers to address attendees on the outlook for both the local commercial and residential property markets. David Watson, a Chartered Surveyor and Director of Chrystals presented the local commercial market outlook for the next 12-18 months. He suggested that from an occupational office viewpoint, 45% of the 75 000 sf. take up of office space last year was from Owner Occupiers, reflecting confidence of local businesses.

Neil Taggart, another Chartered Surveyor and Chrystals Director explained that residential property transactions were continuing albeit buyers were being more cautious. Average Isle of Man residential property prices for 2010, using information as at December 2010, stood at £272,500 per Chrystals data, compared to a UK average price of £162,435 according to the Halifax Building Society

Anyone wishing to speak to David and Neil were able to do so at the end of the event and they are happy to receive enquiries from anyone wanting further information.

For your further information David and Neil can be contacted on 623778 or via the Chrystals website

JCC’s next event is their flagship annual Budget Breakfast, on Wednesday 16 February. This year there is a switch in venue to Mount Murray Hotel to accommodate more attendees given last year’s quick sell out. The event is £10 Members £15 Non-members, available by emailing events@jcc.im

Pictured left to right: Alex Duffy (JCC Chairman), David Watson, Shane Magee and Neil Taggart Directors of Chrystals Estate Agents