Suspended mortgages or buying spree?

Two announcements today have highlighted the binary nature of corporate responses in Asia to the UK’s vote to leave the EU.  Whilst Singapore’s United Overseas Bank imposed a temporary suspension on approving mortgages for property in London, the executive chairman of City Developments Limited, one of Singapore’s largest property developers, announced that he was actively looking to pick up properties in the UK and Europe in the post-Brexit environment.  These contrasting views could be said to highlight the difference between an institutional and an entrepreneurial view, but both reactions are entirely justifiable in the current circumstances where risks and uncertainty battle come up against opportunity. Continue reading