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London Skyline
The UK is coming out of a tough year. Brexit brought uncertainty upon the nation’s political and economic future, but top execs are saying the falling pound will attract foreign buyers and allow London to keep its status as a property “safe haven.”
JLL chief exec Christian Ulbrich said Brexit created uncertainty, but he thinks 2017 will mark a rebound for the London property market, CNBC reports. While UK property volumes are lower post-Brexit and prices have slipped, Ulbrich said the pound’s fall will incentivize investors to re-enter the market.
If that happens, Germany and France could be the ones who lose out — they’ve taken over demand lost in the UK and both their property markets experienced banner years in 2016. [CNBC]
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