Economics
London’s Real Estate Market Stutters as Brexit Kills Dealmaking
- Spending on commercial buildings fell 40% in first two months
- Annual MIPIM conference kicks off in Cannes, France on Tuesday
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London’s commerical property market has become the latest casualty of Brexit.
Spending on U.K. offices, malls and warehouses plunged more than 40 percent in the first two months of the year to 4.3 billion pounds ($5.6 billion), according to research firm Property Data. With less than three weeks left before the U.K.’s scheduled withdrawal from the European Union, buyers are watching to see if the attempts to prevent a chaotic no-deal withdrawal will succeed.