Transactions involving UK institutions are the fastest to close, completing almost a month sooner than sales by non-institutional parties.
A new report from the IPF, based on a sample of nearly 600 commercial transactions from 2004 to 2013, found that the median time for an institutional sale was 92 days, compared with 137 days for other types of seller.
The study, Time to Transact: Measurement and Drivers, also found that UK sellers closed deals faster than non-UK vendors, again with a difference of close to a month.
Overall, the median time recorded for purchase was 122 days at mid-2013, up from 88 days in 2007.
bridget.o’connell@estatesgazette.com
