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Evaluation of Brexit’s impact
Think of the real real Estate market

Walter Boetcher
A conference given by Colliers International at the recent Mipim show in Cannes was partially, in principal, on the subject of the impact of Brexit on the European real estate market. But the presenters, Walter Boettcher - UK Chief Economist, Director of research and forecast - and Damian Harrington -Head of EMEA Research-, invited those present to see the much wider picture. It is within this same logic that the main Belgian market, Brussels, can be seen both in its own right and as part of the European whole.

The opening remarks were that the European markets look relatively stable, and that even if 2017 has got off to a slowish start in terms of investment, the signs are that the year may even match the excellent results of 2016. Colliers believes that there are extremely powerful long term trends, and that these are going to more than offset short term issues such as Brexit. There has already been a substantial drop in the value of the pound sterling, the presenters went on to say, and this probably indicates that the Brexit effect has already been factored in to the markets too. So although there will be some knee-jerk reaction when things actually start to happen, there is unlikely to be a major structural change. And in any case, the 15% drop in the pound is no more of a change than can be seen in most normal cycles, from time to time.

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 | 22-05-17


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