The Scottish Property Federation has voiced its concerns over the general elections result’s potential impact on Brexit negotiations and, by extension, the country’s real estate industry.

Prime Minister Theresa May announced that she will be seeking to form a minority government with support from the Democrat Unionist Party, after the Conservative Party won the most seats but fell short of a majority.

The trade association has warned that the continued political uncertainty curbs progress to attract jobs and investment to Scotland.

Paul Curran, chairman of the Scottish Property Federation, said: “The uncertainty from today’s election outcome is not what the country needed and we are concerned at the impact this will have on the Brexit negotiations, which are due to start in a matter of days. The outcome of these negotiations will have far reaching consequences for the real estate industry in Scotland, particularly in relation to the flow of capital investment and the movement of skills and talent.

“In Scotland, it’s undoubtedly been a night of mixed fortunes for the four political parties, with the Conservatives, Lib Dems and Labour doing better than expected. The SNP, whilst retaining their majority of Scottish Westminster seats as sought in their manifesto, will be disappointed to have lost over 20 seats and some influential figures from their ranks. The industry will now be keen to see what impact these results will have upon the Scottish Government’s call for a second independence referendum, which has added to the current political uncertainty prevailing over the outcome of the Brexit negotiations.

“Given the continued political uncertainty surrounding the issues of Brexit for the UK and the Scottish Government call for a second independence referendum there must be increasing impetus on delivering positive policies to help the real estate sector in Scotland attract jobs and investment to Scotland.”