More than half of major global institutions are expecting to slow down or stop their investment into the UK following Article 50, according to a KPMG.
A survey of more than 60 investors with a combined $600bn (£480bn) real estate portfolio showed that Middle Eastern investors were least likely, at 29%, to continue targeting the UK at their current level. More than two thirds of North American investors expected to do the same.
Source: KPMG
Nearly a third of investors said Brexit would not have a “material effect” on Paris, Frankfurt, Dublin or New York. Of those who did expect a boost, a third thought Frankfurt would gain the most and 31% thought Dublin would.
Investment from the Middle East already fell 47% to €1.8bn between 2015 and 2016, according to BNP Paribas Real Estate. However, the UK was still the preferred destination for cross-border Middle Eastern and Asian investors in 2016.
Andy Pyle, head of real estate at KPMG, explains the survey’s findings
Source: BNP Paribas Real Estate
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