A recent report published by global property advisor CBRE has concluded that international investor opinion of Brexit, specifically in the property market, has fallen over the past three years.
Of those surveyed, 73% believe that the UK will be a worse place to invest if it leaves the EU compared with 69% in 2015, and 46% think it will be a slightly worse place to invest in, compared with 32% in 2014. Twenty-one percent of respondents said they felt it would make no difference to investment, down from 33% in 2014. The majority of respondents believed the UK property market would suffer an adverse 'demand shock' if the vote to leave goes through, according to the survey, which polled 191 CBRE property investor clients.
“According to our recent poll, property investors have, over the past three years, become increasingly gloomy about the effect of the UK leaving the EU,” commented Miles Gibson, head of UK research at CBRE. “The UK has experienced record property investment in the past few years and the property investors we surveyed fear that a Brexit would adversely affect the attractiveness of the UK as an inward investment destination.”
The UK will vote in a referendum on June 23 to decide whether to remain in the EU.