Donald Trump’s US election victory has “evened the playing field” when it comes to real estate investment, according to Colliers International’s chief economist.
Walter Boettcher said: “The focus on London in particular as an epicentre for Brexit risk is now a little bit more diluted now that the Americans have a new president, who us untried and untested.
“Consequently that particular risk perception is going to spread across most of the core financial markets, not just around Europe but around the world. So it has evened the playing field in a certain way.
“As a matter fact it could well be that the financial markets in the US suddenly become vulnerable by virtue of the uncertainty.”
But the long term impact on US real estate will determined by the appointments the president-elect makes to his administration, said Boettcher.
“There are already some indications that he’s going to have quite a few financial types, for lack of a better word,” he said.
“This means that theoretically it should be a language that will be familiar to business. Maybe that builds certainty, maybe it doesn’t. We’ll have to wait and see.”