Last Thursday the United Kingdom has voted to leave the European Union which has triggered panic on financial markets. Players of the property market are also in shock all over Europe, eager to find out what Brexit means for the future of their investments.
Brexit will not only affect the UK property market, it is likely to have a large impact on all European markets. The extent and the nature of that affect will be determined by the political establishment of the United Kingdom and the European Union as they negotiate the terms of the exit. However, from what we have seen so far, it won’t be a quick and easy process.
At this point only one thing seems certain which is that after months of speculation another period of uncertainty is to follow. Although from a legal perspective business will go on as usual in the UK at least for the next two years, several deals are likely to be postponed in the near future as investors try to learn more about what is to come.
In this period of unprecedented change one must carefully follow how markets adapt in order to find the best opportunities. Here at Portfolio Property Forum we will do our best to update you with all the latest developments of the Central and Eastern European market. One of the key topics of our yearly regional conference, CEE Property Forum 2016 (21 September, Vienna) will also be Brexit and its implications.
