Jeff Blau

Brexit leading to uncertainty in London: Blau Related is developing some 13K resi units across the pond

Big Ben and Jeff Blau

The Related C上海夜网

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ompanies’ Jeff Blau is circumspect on London’s luxury real estate market as the U.K. gets ready to break from the European Union.

“Uncert爱上海同城论坛

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ainty is bad for business, and Brexit has created uncertainty,” the company CEO told Bloomberg on Monday.

The company, which formed a joint venture to develop approximately 13,000 residential units targeting the city’s middle-market, has “cer爱上海同城手机版

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tainly” seen a drop in prices for luxury London homes, Blau said.

London’s 爱上海

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residential market has declined sharply from near-record highs amid an atmosphere of higher sales taxes and concern over Brexit. Sales of London homes under construction plumm爱上海同城手机版

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eted last year to their lowest level since 2012, and there is a record number of unsold properties, according to the research firm Molior London.

New listings fell 14 percent in January from a year earlier as sellers got more skittish. [Bloomberg] – Rich Bockmann

Tags: brexit, jeff blau, Related Companies
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