Property DOOM: Commercial property prices could fall 20% after EU vote - analysts

[AtW]

On the flip-side, the direction a Remain vote would have taken us I found totally unpalatable.

You'll have an opportunity to re-evaluate this, pity it would be too late to change anything.

[The_Equalizer]

It's pretty good yes, especially if you got a lot of money - but for a lot of people it will be much worse, have you ever considered that some people are making decisions not just out of their own selfish self interest?

Of course. My Leave vote was in no way a benefit to myself. It might work out that it is a hindrance, a downright cock-up, or very helpful. On the flip-side, the direction a Remain vote would have taken us I found totally unpalatable.

[AtW]

But you're not going to leave us though are you. The UK maybe a bit grubby in spots, but it's still jolly good.

It's pretty good yes, especially if you got a lot of money - but for a lot of people it will be much worse, have you ever considered that some people are making decisions not just out of their own selfish self interest?

[The_Equalizer]

I am gaining every single day from Brexit.

The country however is losing.

That's why I voted to Remain.

But you're not going to leave us though are you. The UK maybe a bit grubby in spots, but it's still jolly good.

[AtW]

More importantly, how much have you lost now?

I am gaining every single day from Brexit.

The country however is losing.

That's why I voted to Remain.

[GB9]

Why do people think paying more for property is good?

Why are you quoting everything in $ terms?

More importantly, how much have you lost now?

[AtW]

UBS brokers say Brexit clauses are being triggered in property transactions, causing some deals to fall through

The prices of some commercial properties could fall by 20% in the wake of the UK’s vote to leave the EU, analysts have predicted.

An analysis by brokers at UBS found that some Brexit clauses were being triggered in commercial property transactions, causing some deals to fall through. It also expects the outlook to remain uncertain until negotiations over passporting rights – which give firms in the City of London the ability to transact across the EU– are finalised.

Since the referendum on 23 June, more than half a dozen commercial property funds have taken steps to adapt to the changing economic backdrop. Some have stopped customers withdrawing their cash by suspending trading; others have announced fund devaluations, including Aberdeen Asset Management, which devalued by 17%.

The UBS analysts said they expected London office values to fall by 20% – an increase on their previous 15% estimate. Falls in the price of other commercial properties would not be so large. But, they said: “At this early stage, there is limited evidence to point towards, to assess the potential magnitude of the impact on the commercial real estate market.”

The analysts said: “We have heard of some so-called Brexit clauses being triggered, causing deals to fall through. The long-term demand picture in London is uncertain as banks investigate the potential impact of a withdrawal of passporting rights, while the near-term outlook is also difficult. So the direction is certainly down, but the magnitude is uncertain.”

Source: https://www.theguardian.com/business...it-clauses-ubs

So, that's 20% in Sterling terms, plus 15% sterling devaluation, plus future inevitable reductions and this all means ...

DOOMED!!!