07/08/2016 | by
Allen Kenney

Jahn Brodwin of FTI Consulting says the fallout from the U.K. vote in favor of leaving the European Union means "London is on sale."

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In the latest episode of The REIT Report: NAREIT's Weekly Podcast, Jahn Brodwin, senior managing director with FTI Consulting, offered his analysis of the Brexit's effect on property markets in the United Kingdom.

Brodwin said measuring the impact of the Brexit on property values in the U.K. has proven to be difficult as transactions have halted since the vote. Additionally, a number of real estate investment funds have suspended trading, adding to the difficulty.

Despite the economic turbulence, investors from outside the country might look more favorably on buying opportunities in the U.K., according to Brodwin.

"In the real estate world, most investors have a longer-term perspective," he said. "In the long run, I think the U.K. market will be fine."

Brodwin also noted that currency fluctuations mean investors from outside the U.K.  can get "more for their money" by investing in its real estate assets. "Essentially, London is on sale," he said.

From the perspective of U.K. property owners, forced selling appears likely, according to Brodwin.

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