The commercial property investment market in central London almost doubled last year on the year before, according to Jones Lang-Salle, the property consultant

In 2005 £15.38 billion of property was traded in the City, up 42% on the year before, which saw £8.5 billion of buildings traded with 27 deals of over £100 million.

The huge demand for property resulted in the reduction of rental yields to investors to 4% in the West End and 5% in the City.

On expectations for 2006, Milan Khatri, head of economics at the Royal Institute of Chartered Surveyors (RICS), said: "The market is posed for at least equalling last year's activity this year due to economic conditions, notably the low interest rates and due to more investors, especially institutional investors, looking to diversify their portfolios."

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