In the space of two days, the UK gained a new prime minister and lost the only monarch the country had known for 70 years. Inflation is at a 40-year high, interest rates are rising fast to curb it, the value of the pound is lower than it was during the currency crash of the early 1990s, and three years after it was ratified, the effects of Brexit are starting to be seen in the economy. The UK has faced a series of political, economic and existential crises in the past decade, from a referendum on Scottish independence to the Brexit vote and Covid-19. Through all of them, real estate has sailed on serenely: Investment volumes have fluctuated, but values and rents have kept pace with or even surpassed those of other similar major economies. The silver bullet of super-low interest rates covered all ills. But with a recession looming, those low rates no longer an option and political uncertainty a near constant, UK real estate faces a unique set of challenges. 
“It feels quite depressed in the UK at the moment, and the death of the queen of course doesn’t help that,” said Aref Laham, Orion Capital Managers founder and managing director.Orion is a London-based pan-European opportunity fund manager, and Laham sees the UK economy and real estate market…  Read the full story here. | 
