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Real-Estate Investors Shun Brexit Britain

Germany, Spain are set to benefit from the change in sentiment

European real-estate investors say they’re turning away from the U.K. commercial-property market in favor of countries including Germany and Spain, worried by high prices, low supply and political uncertainty. A survey of 148 investors by broker Knight Frank found that less than 12 percent rated Britain as their preferred medium-term investment target, down from 16 percent a year ago. Pricing was the biggest constraint on investment decisions for more than 41 percent of respondents, with about 16 percent citing political risk.

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