UK's real estate woes run deeper than Brexit

London

WHILE some investors have been quick to blame next week's Brexit vote for the slowdown in UK commercial property sales, there are growing signs the market will stall, whatever the outcome of the referendum.

Investors spent £16.9 billion (S$32.4 billion) on offices, stores, warehouses and other commercial properties from January through May this year, according to Real Capital Analytics Inc data. That's down from a record £33 billion in the same period last year and ends three years of rising sales.