Brexit Pushes Slumping CRE Sector Down Further
There were already signs that commercial real estate’s multi-year boom was on the decline before the Brexit vote—but the UK leaving the EU sure didn't help.
Europe’s now tenuous political stability has made tenants wary of leasing and buying property, causing a slowdown in deals and potentially reducing commissions for real estate firms like CBRE Group and Colliers International, the Wall Street Journal reports.
In the long term Brexit turmoil could bring about more merger and acquisition opportunities for companies with little debt like JLL or CBRE. These companies might be able to take advantage of the UK’s position by picking up cheap deals. [WSJ]