However, there are investors who plan to buy real estate until June 23
The British market is quiet: investors are afraid to lose in the case that June 23 will be made "the wrong decision". George Osborne, Finance Minister of great Britain on 8 may announced that the UK's exit from the European Union (the "Brexit" - Britain+exit) will cause huge damage to the value of the property, and would increase the cost of mortgages. In favor of his words statistics says as well: over the last 3 months only 5% of realtors in the UK have noticed an increase of interest from foreign investors. A year ago, the increase in the number of foreign customers was noted by 36% of the British realtors.
Many experts agree With the point of view of George Osborne. Simon Robinson (investment company RICS) believes that the interest of buyers from abroad began to decline a year ago, when the media only reported about the national vote. David Drained from SERGO dubbed the upcoming national poll "the main barrier to investment". 20Tom Lee from the RCA company adheres to other opinion: Brexit only adds fuel to the fire. In any case, the boom on the European real estate market has already completed, this is a general trend. In this connection, is interesting the position of the employee of Legal & General Bill Hughes: "We're going to try to buy assets in the UK untill the referendum, although we are not sure that now is the right time for that."
As for the commercial real estate, political uncertainty has affected this sector less. In the first quarter of 2016, only 2.9% of London offices were empty. In other European cities the situation is worse – in Frankfurt, for example, 12.2% of the offices are empty, in Paris - 6.8% (the data of real estate agency CBRE). Prices for rent of commercial real estate are rising as well – offices in skyscrapers rose by 9.7%, and the premises in general buildings – by 7.7%. Reuters explains this phenomenon by the fact that in London are many financial institutions from around the world, such as Morgan Stanley Bank.
Based on the materials of vedomosti.ru and rns.online
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