Jul
19
KKR’s Rosenberg Says London Property Prices Could Fall 10%
By-
Says Brexit not fully priced into real estate in U.K. capital
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Firm’s property chief sees opportunities in NYC hotels, condos
The value of high-quality properties in London could fall by as much as 10 percent as the U.K.’s decision to leave the European Union affects the economy, said Ralph Rosenberg, head of real estate for KKR & Co.
“I wouldn’t be surprised to see London reprice” about 5 percent to 10 percent “for core-type assets” because Britain’s planned exit from the EU isn’t fully reflected in real estate values, Rosenberg said in a Bloomberg Television interview Wednesday. He was referring to both commercial and residential property. Prices for the best London real estate surged right after last year’s vote as outside investors took advantage of the decline in the pound to buy…
KKR’s Rosenberg Says London Property Prices Could Fall 10%
