Despite the UK’s decision to leave the European Union, London remains the “most popular European city” for institutional property investors, but German cities continue to dominate the leaderboard, a new study has revealed.

Following the outcome of the EU referendum, 38% of institutional property investors cited London as the top European city to invest in commercial property, ahead of Berlin at 36%, Munich at 31% and Paris at 22%, according to the research by BrickVest, the property investment platform.

No fewer than four of the top 10 European cities identified by BrickVest were German – Frankfurt and Hamburg were the other two German cities – with Amsterdam, Barcelona, Dublin and Zurich completing the top 10 positions.

The study found that 30% of institutional investors believe Brexit will either increase or significantly increase European commercial property investment opportunities, while 23% of institutional investors believe that Brexit will have no impact on commercial property investment opportunities.

The research did however highlight some concern regarding the illiquidity of commercial property investing, with 61% of respondents stating that they do not believe that, in light of £1.4bn being pulled from UK property funds post-Brexit, property investors have enough access to a secondary property investment market.

Emmanuel Lumineau, CEO at BrickVest, commented: “Our research has identified London as the number one European city to invest in commercial real estate as investors seek to capitalise on potential price discounts and market uncertainty. However, Germany dominates across the leaderboard and we have seen plenty of appetite from investors looking to capitalise on income producing portfolios across Europe and take advantage of the Brexit vote.”

Source: BrickVest (October 2016)