Property investors have warned that Brexit could make the UK a less attractive place to invest, according to a survey by CBRE.
As part of its Heading for the Exit report, published today, the survey of the firm’s investor clients has revealed that sentiment had hardened against leaving the EU.
Those who think exiting the EU would make no difference to investment stand at 21%, down from 33% in 2014, while those that think the UK would be a worse place for investment has jumped from 69% to 73%.
CBRE predicts investors and occupiers will delay decisions until after the referendum on 23 June, with a “catch-up” effect similar to that seen in the Scottish market in 2014.
Miles Gibson, head of UK research at CBRE, said: “Property investors have, over the past three years, become increasingly gloomy about the impact of the UK leaving the EU.
“The most important concession that the prime minister has secured is to ensure that non-eurozone countries are not discriminated against within the EU’s single market. This aims to ensure that key parts of the UK economy, particularly financial services, can continue to operate from the UK rather than having to move to the eurozone.”
The report also shows that industries dependent on migrant workers could suffer.
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