London will remain a strong long-term property investment prospect, despite its current wobbles amid uncertainty over Brexit, the chairman of global estate agency Knight Frank has said.
Many have questioned whether the capital will end up with a diminished role as a global business and financial centre once Britain leaves the EU, with the underlying assumption being that if this is the case any property investments there will consequently be less valuable.
However, Alistair Elliott told the South China Morning Post that rumours of London's death as a property hotspot have been greatly exaggerated.
He remarked: “The markets have stood up (to Brexit fear) incredibly well. If you roll back the clock two years, people were giving gloomy forecasts; it hasn’t happened.
"We have the details of Brexit to come [and] I do not believe it will be as aggressive an experience for London real estate markets as people originally thought.”
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