The Real Estate Law Review Jersey chapter
Carey Olsen partner Chris Philpott and senior associate Will Whitehead, authored the Jersey chapter of the Real Estate Law Review, 6th edition, as published by Law Business Research.
Overview
Real estate is a truly global industry. The worldwide impact of events of the preceding 12 months has confirmed that it is no longer possible to look at domestic markets in isolation. It is hoped that The Real Estate Law Review reflects this position. An evolving awareness of the global real estate market and an understanding of the practices, requirements and concerns of overseas investors is essential if practitioners and their clients are to take full advantage of investment trends as they develop.
This publication gives an overview of the following elements of Jersey's real estate framework:
- Overview of real estate activity
- Foreign investment
- Structuring the investment
- Real estate ownership
- Leases of business premises
- Developments in practice
Outlook and conclusions
The local market continued to strengthen in 2016, and activity levels matched those experienced in 2015. It is too early to tell what bearing external factors (not least of all the outcome of the UK referendum to leave the EU) will have on the Jersey real estate market, but the foundations are strong, and demand is underpinned by a robust financial services sector.
Key development projects within the St Helier Waterfront and Esplanade quarters continue to provide a renewed supply of grade A office and retail space, to complement a generous residential offering. It is envisaged that Jersey’s reputation as a stable and well-regulated financial centre will strengthen demand in the commercial sector, particularly in light of uncertainty in the UK and European Union.
