Is Brexit good or bad news for the UK's Real Estate market?
Property law for the most part falls within the scope of national oversight and has not been subject to harmonisation in the same way as other national laws. There are therefore few direct legal repercussions for the UK's property laws but the real estate market will undoubtedly feel the aftershock of the seismic impact of the UK's vote to leave the EU.
While occupier demand is likely to reduce in line with any downwards economic adjustment resulting from the fall-out of the Brexit vote and as investor sentiment wavers causing volatility, a weaker Pound could help stimulate the global capital that has been sitting on the side-lines in recent weeks, which could in turn result in increased capital flows into prime UK real estate.
In the short to medium term, a Brexit will mean uncertainty in the UK real estate market as everyone's attention is likely to be diverted to the withdrawal/renegotiation process. To make sense of this complex mesh of legislation and rules in a Brexit world will take a huge amount of thought and head scratching.
We are here to help with contingency planning and implementation; and understanding what the various Brexit scenarios would mean for your business.
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Please note, these materials are current as of the date of their publication and do not necessarily reflect the present state of the law or relevant regulation. If you have any questions, please do not hesitate to get in touch with us.