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News Release


Making sense of Brexit: Update III

• Early evidence on the immediate economic effects of the Brexit vote suggest a stark divide between the impact on UK sentiment and much milder spill-overs to the rest of Europe.
• A similar pattern is emerging from occupiers, with a "business as usual" tone in activity across mainland Europe set against caution in UK transactions (albeit that most are still proceeding).
• There is little evidence yet that Brexit is re-shaping corporate location decisions – this will require greater clarity on the UK settlement as well as consideration of a range of other factors.
• Direct commercial property investment has slowed since 2015, though in Q2 this was largely due to a pre-vote slowdown in UK activity, as the rest of Europe saw an increase. • Market evidence suggests a swift, but relatively-shallow re-pricing of UK commercial real estate in response to the vote, with continued resilience in continental Europe.

Read the full update here:

JLL Brexit Update.pdf