Now Britain has finally left the European Union, the UK property market is taking off.
Residential prices in the UK property market jumped around £2,500 in January alone, taking average asking prices to £309,399 – just £40 short of the all-time record.
Investors are also turning to UK commercial property as capital values rise and business confidence increases, boosted by the ‘Boris bounce’, says Consorto Chief Executive Officer, Philip Verzun.
“The UK is the number one target for our commercial property investors at the moment. Now Brexit has been finalised, demand from international investors is rising.
“Major trade deals still need to be finalised, but Prime Minister Boris Johnson has injected enthusiasm about major infrastructure investment in the future, including the High Speed 2 rail project, which is capturing the attention of CRE investors.”
To illustrate the point investors are set to inject billions of pounds into UK commercial real estate this year, following the Brexit decision, says a Reuters report.
Now the uncertainty is over as to whether Britain would leave the European Union, business sentiment has improved.
Among those looking to invest in the UK is LaSalle Investment Management, which plans to spend £1 billion in 2020. Similarly, Madison International Realty is set to invest more than $1 billion in central London property.
Among other major investors looking at the UK market is Dutch real estate developer Breevast, Intermediate Capital, CA Ventures and Invesco Real Estate.
Consorto is the online European commercial property marketplace. It connects professional investors to commercial real estate investment opportunities using targeted automation. Buyers and sellers can register for free with Consorto.