LONDON, Dec 6 Reuters UK investors pulled money from real estate funds for the second month running in November, but sentiment towards equity and fixedincome funds improved, fund network Calastone said on Wednesday.

Investors withdrew 88 million pounds 110.70 million from real estate funds overall last month, making it the secondworst month of the year for property funds after August39;s 121 millionpound net outflow, according to Calastone39;s data.

The property outflows were driven by a decrease in buy orders, while sell orders remained almost unchanged, Calastone said.

Property faces a triple squeeze of weak tenant demand in commercial property, high interest rates hitting capital values, and high finance costs hurting profit margins, said Edward Glyn, head of global markets at Calastone.

Real estate firms around the world have come under strain as higher interest rates have driven up the cost of funding.

The Bank of England raised interest rates 14 times in a row between December 2021 and August this year. It paused its increases in September.

Jefferies analysts said in September that London39;s office market was in a rental recession as empty workspace hit a 30year high.

Until we see a decisive turn in the UK39;s growth prospects, commercial property is likely to continue to struggle, Glyn said.

UK investors showed more confidence in equity funds, which posted net inflows of 449 million pounds in November, Calastone said. This was a tentative turnaround in…