Telegraph - However, the company expects the volume of transactions overall to be "significantly lower" in 2009, because of the difficulty of raising money for mortgages.
The recovery of the property market is dependent on the financial system starting to function again, Savills said.
"Demand from cash rich investors and up-sizers is likely to emerge as price falls work their way through the market. This will make residential investment property start to look especially attractive to foreign buyers benefiting from the weakness of sterling," the company said. Interest rates close to zero may also stimulate demand for commercial property, Savills said.
Savills said its finances are robust enough to cope with the recession, after it agreed a new £80m banking facility which lasts until 2011.
In 2008, Savills slumped to a pre-tax loss of £7.7m, from a profit of £85.9m the previous year. Revenue fell 13pc to £568.5m and the estate agent had to write down £42m on the value of acquired businesses and asset impairments.
The company made redundancies, closed offices and cut £22m of costs during the year.
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