By David Parsley2019-02-12T08:25:00
Royal Bank of Canada (RBC) has issued a Brexit warning to the London office market, predicting rents will fall 16-18% in the next five years.
The bank, which has also initiated coverage on the UK’s top real estate investment trusts (REITs), believes UK rents are close to their highs, while property yields and interest rates are at their lows. RBC believes these factors would ordinarily lead to an unattractive growth outlook, but added to macro-economic issues such as Brexit could trigger a “significant pause in tenant demand”.
You must be logged in to view premium stories.
Take out a print and online or online only subscription and you will get immediate access to:
To get access to premium content subscribe today
Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts