London’s ongoing attractions confirmed by investor activity
The UK government is on track to trigger Article 50 of the Treaty of Lisbon by its stated deadline of end-March. Negotiations with the European Union on the United Kingdom’s decision to leave the EU will start shortly thereafter and bring Brexit into sharper focus, depending on how talks go.
Real estate and currency markets reacted adversely in the immediate aftermath of the 23 June 2016 vote. UK real estate markets have recovered somewhat since then, helped paradoxically by sterling’s 15–20 percent decline against major currencies and global investors’ reappraisal of the attractions of UK investments.
A major concern of real estate investors is the impact of Brexit on the position of London as Europe’s premier financial centre. Fears have been expressed that the loss of EU passporting rights will see significant numbers of London’s financial services jobs moved out to other EU financial capitals such as Frankfurt, Paris, Dublin and Amsterdam. Certainly, ma