By Ben Cooper2018-07-26T23:00:00
Ben Cooper asks what makes the islands the place to be and whether Brexit poses any risk
The Channel Islands have never been full members of the UK, or the EU for that matter. But that hasn’t stopped Jersey and Guernsey becoming leading financial centres with a combined GDP of £6.2bn.
While Brexit wreaks political and economic chaos on the mainland, it doesn’t to date appear to have created too many headaches for islanders. Indeed, it may well prove to be a long-term benefit – not least for the property market, says Alistair Sarre, director of Jersey-based commercial property agency Sarre & Company.
“We’ve seen a marked increase in high-net-worth individuals coming here since Brexit,” says Sarre. “A spin-off of that has been an increase in demand for high-quality property, which has led to a shortage in supply. It seems to have played into our hands; it’s made us the place to be.”
But is the “place to be” really immune from any fallout from Brexit?
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