Booming property auctions lift Brexit gloom in British real estate

Booming property auctions lift Brexit gloom in British real estate
 

Commercial property auctions are proving an unlikely bright spot in Britain's real estate market where a steep drop in sterling has attracted overseas buyers and local investors are as yet unfazed by potential fallout from Brexit.
Britain's 900 billion pound commercial real estate market was an early victim of the financial market turmoil that followed Britain's vote in June to leave the European Union.
Retail investors quickly pulled money out of commercial property funds just after the vote, causing a temporary freeze on 18 billion pounds ($22.38 billion) in assets.
In July, British... read more

 
16 October 2016 in Business, Views: 87
Source: Reuters
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