BREXIT and The London Residential Markets: The real estate specialist’s view
It has been 2 years since the Brexit referendum’s surprise result and intensive negotiations between the UK and the EU are coming to an end. The proposed exit agreements have been approved by the EU and and are being processed by the UK Parliament.
Given that the EU has agreed the UK’s exit proposals and that Prime Minister May has successfully reasserted her authority, few doubt that the UK will not be exiting the EU for once and for all on 29 March 2019.
Most of the early “disaster scenarios” that were proposed regarding Brexit’s future impact on the London real estate markets have proven unfounded:
For instance, it was initially feared that demand might fall in a small number of specific PCL and POL markets, that are particularly popular with ex-patriot EU populations. A much-quoted example of such a market was South Kensington, which has long been popular with French buyers, due to its French School.