In what will most likely go down in history as one of the most controversial weeks in politics, the Brexit vote is already making significant waves throughout the global economy.
With a period of uncertainty ahead, it is unsurprising that there will be a lack of confidence in the UK economy.
As business opened on June 24, the pound plummeted to a 31- year all time low, and by the end of this notorious Friday, $2.08t had been wiped off global shares. The ripples continued throughout the globe with Wall Street suffering the biggest one-day loss in 6 months, Japan’s Nikkei index experiencing its biggest fall since the Fukushima disaster of 2011 and France’s CAC tumbling by 8%.
Property has enjoyed, for a prolonged period, the benefits of appealing to investors for many reasons; be it buy to let landlords, gentrification and student lettings, or global firms seeking property within the Capital to utilize as way to gain a passport into the EU. Following the Brexit decision, and the announcement by Moody’s lowering the credit outlook on UK, what are the future prospects for property investments and growth?
Read full article: Saudi Gazette