What is the tallest building in Great Britain

Despite Brexit: 510 skyscrapers planned in London

Haughtiness comes before the event. The vernacular already knows that. In the real estate industry, however, it should rather be said: high-rise buildings come before the fall. The office towers and high-rises in the world's top cities are, on the one hand, efficient real estate machines that accommodate thousands of jobs or residents on a few square meters of floor space. On the other hand, however, skyscrapers also stand for the hubris of humanity. For arrogance and megalomania.

It is not uncommon for the excessive construction of prestigious skyscrapers to be followed by a major economic crisis. In order to be able to recognize the danger at an early stage, a special skyscraper index was developed for the financial world, a kind of sign for the situation on the real estate market. And this index is now sounding the alarm in the UK.

No fewer than 510 new high-rise giants are to be built in the coming decade. This is shown by an analysis by the London architects' association New London Architecture. What is remarkable is that, despite Brexit, a number of new projects have been added. In 2016, according to the London Tall Buildings Report, only 455 skyscrapers were being planned.

Excess supply worries experts

London's skyline, which is still quite clear today, with its cucumber, the shard and the ferris wheel, could turn into a confusing tangle of skyscrapers. Construction work has already started on 115 buildings. These include the 75-story Landmark Pinnacle, which is slated to be the tallest building in Europe in 2019. Not all new skyscrapers will rise that high. All buildings from 20 floors upwards are considered high-rise buildings. But at least 28 projects should have 50 floors or more.

This concentrated urge to climb is causing concern among real estate experts. Because there is a threat of oversupply, at least in offices. "Many construction projects were planned and calculated at a time when Brexit was not yet an issue," says Thomas Beyerle, chief researcher at the real estate service provider Catella. “At that time, the development of demand was carried forward into the future. This created a kind of project bow wave that will break from around mid-2020. "