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Brexit creates opportunity for UK property investment says industry organisation
January 25, 2017Article by Chelsea Battle
The property industry in the UK is being urged to look at and act upon the opportunities that could open up as a result of Brexit rather than focusing on the negative aspects.
According to the Property Industry Alliance (PIA), which brings together leading representative bodies from the UK’s commercial property industry, the Government also needs to take into account the real estate industry when formatting its Brexit deals.
The PIA has identified five key areas that it believes the Government should take on board and points out that while Brexit poses risks to the real estate industry, it also opens up opportunities if the Government makes the right moves.
It points out that overseas investment in UK commercial real estate is a highly significant driver of GVA and productivity and must not be put at risk by Brexit. Foreign investors own 28% or £135 billion of UK commercial real estate held as investments and more if housing and student accommodation are included.