Is there a viable European alternative to London property after Brexit?

[Nicholas Wallwork]

While there was always a suspicion that the UK population would vote to leave the European Union many never actually expected it to happen. Whether we would see last-minute concessions from the European Union, a raft of Labour voters following their party’s lead or what many see as common sense it just did not happen.

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[lookinginvest]

London has been written off time and time again by so-called "property experts" but when you bear in mind that London property costs more than double per square metre than second placed Paris in the league table of European property markets, what does this say? Will investors suddenly flee the London property market? If Paris put itself forward as the next best option, surely investors would need to consider the overall European economy and the French economy which are both struggling. Compare and contrast this against the UK economy which has been a significantly better performer since the 2008 worldwide economic downturn.

 

[nmb]

We may well see other European cities emerge as competitors to London but London has so much to offer which is why the cost of property per square metre is more than double that of the second most expensive city in Europe, Paris. Let us not forget that part of the attraction of the London property market is/was the fact the UK refused to adopt the Euro which has proven to be a difficult currency to control. Will the UK maintain its safe haven status going forward? Will overseas property investors regain their appetite for London real estate?