Most agree commercial real estate is down since Brexit, but estimates differ over how much. Property broker CBRE estimated that property values across the U.K. fell 3.3% in July. Data-firm MSCI Inc. said values fell 2.8%.
Norway’s sovereign-wealth fund said it took 5% off the value of its U.K. property portfolio because of Brexit. Aberdeen Asset Management, which operates a U.K. property fund, at first knocked its value down 17% to reflect rapid sales but more recently said it is off 5%...............................................Full Article: Source |