In a Law360.com article published on July 12th titled “4 Ways Brexit Could Shape The US Real Estate Landscape,” Andrew McIntyre of Law360 looks at four ways attorneys say the Brexit could play out in the following US real estate market areas:
- Office investment increases
- Lower interest rates
- Declining US hotel occupancy rates
- Luxury residential gets a boost
Concerning the office sector, the U.S. commercial real estate market has for some time benefited from an influx of foreign capital as investors view U.S. real estate as a safe investment haven, and the turmoil and uncertainty post-Brexit could result in even more capital flowing into U.S. office properties, lawyers say.
“The uncertainty that’s currently been created in the London market will tend to benefit those coastal markets of the U.S.,” said Simon Adams of Reed Smith LLP, referring to markets like New York, Los Angeles and San Francisco.
The full Law360 article can be found here.