THE LATEST ON LONDON REAL ESTATE. IN THIS EDITION OF CAPITAL WATCH, WE EXPLORE THE THEME OF CULTURE AND ASK HOW THIS SUPPORTS LONDON’S REAL ESTATE.
Almost one year on from the Brexit vote, and the world hasn’t imploded as some predicted. Whilst it would be foolish to ignore the storm clouds on the horizon, London’s resilience continues to confound its critics. Although pressure builds to retain single market access, there is a strong sense of reluctance on the part of business to effect substantial relocations from London.
Why is this?
Firstly, the complex interconnection of London’s economies, developed over many generations, creates significant switching costs.
- Secondly, London is the capital of the English speaking world, occupying an opportune time zone.
- Thirdly, London is business friendly. It has a transparent economy, legal and tax system, with fair but flexible labour laws.
However, often at the top of any discussion of London’s strengths is its culture. London is above all a place where people want to work, shop and live.