Buyers face a European investment dilemma

Investment into commercial real estate in the UK during the first half of this year was at its lowest in almost a decade – £19.7bn compared with £28.9bn a year ago, and 4% below the long-term average. Over the same period, total UK commercial property investment levels were around a third of last year’s total of £62.4bn. Why is this, when Brexit uncertainty and the political merry-go-round has driven the UK to its lowest interest rate environment in living memory, coupled with the availability of historically cheap debt? In my last column in April, I talked about how debt pricing