Real Estate sector is expected to drive growth in the UK
31% of overseas investors have claimed that the real estate and construction sector would boost growth in the UK over the coming years. This has increased from 10% of investors in 2019.
Real estate and construction are increasing in popularity and are viewed as one of the top 3 attractive sectors in the UK.
Real estate and construction follow the digital sector which is viewed as driving future growth by 50% and the health and wellbeing sector which is viewed to drive growth by 36%.
EY UK head of real estate, hospitality and constriction, Russell Gardner, said that this increase is likely due to the governments planned infrastructure plans.
The COVID-19 pandemic has also played a part, this is due to the impact it has had on UK high streets and workplaces. The pandemic has forced investors to consider what the future will bring for the real estate sector.
COVID-19 has forced investors to rethink their strategy for future investments, 61% of investors have stated that the changing model in UK cities will be an important factor in deciding future investment plans.
EY’s UK attractiveness survey has found that less businesses are now looking to invest in the UK. In April, the number of overseas companies planning to invest in the UK stood at 31% this has dropped to 25%.
Even investments which were planned before the pandemic are falling. In April, the number of investments going ahead stood at 72%, this has since fallen to 43%.