LONDON (Reuters) - Property consultant Savills (Savills PLC Ord 2.5p) confirmed it would deliver higher-than-expected savings as the global property recovery gathers pace but remains wary of possible setbacks in the housing market and Asia Pacific.
The company reported continued strength in transaction volumes across the Asia Pacific region at a time when it had previously forecast a gentle slowdown in market activity.
It also pointed to a higher than expected level of sales in the UK prime residential market, where prices have begun to trend upwards on the back of limited supply and increased demand.
"The combination of these factors means that we expect Savills' underlying performance for 2009 to be significantly ahead of our previous expectations," the company said in a statement on Thursday.
Last month, Savills said it had delivered cost savings of 60 million pounds for the year, 10 million pounds more than the original target.
(Reporting by Sinead Cruise)