Essay: The prices for office and retail space in Lichfield

Essay: The prices for office and retail space in Lichfield

The prices for office and retail space in Lichfield do not differ much. The prices for the two therefore range from 200,000 to 250,000 pounds. Despite the fact that commercial property is very lucrative, the trend in the city is that most business people prefer to lease rather than rent.

This means that it is harder to find commercial property on sale in the city than residential property. This fact does have both its good points and bad. First of all, the fact that there are not many commercial properties for sale means that there are not many people who are willing to buy this sort of property. It also means that just in case there is an influx of citizens who would rather buy than rent, owners of the few properties that are being sold can hike the prices, as is the law of supply and demand. The downside of this is that if there are less people willing to buy the property, the prices will go down, leading to a probable loss on the part of the owners.

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