July 6, 2016
Global markets have been roiling in the wake of Britain’s June 23 historic vote to leave the European Union. Amid many concerns is the question as to how this move will impact commercial real estate, not only globally but in the United States.
Barbara Byrne Denham, economist with CRE research company Reis Inc., has crafted a white paper entitled “The Impact of Brexit on Commercial Real Estate.” In it, she comments that the markets should moderate – but the move will impact the global economy, making already poor economic growth even more uncertain.
She also notes that global investors will begin directing more money toward U.S. property markets. The U.S. real estate market is already a safe haven. “The appeal has only increased with the Brexit vote,” she said.