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EU referendum causing UK investors to hesitate | 10 March 2014

David Cameron’s pledge to put the UK’s European Union (EU) membership to a vote in 2017 has caused commercial property investors in Britain to show “growing signs of uneasiness”, one expert believes.

Dr Peter Damesick, the chairman of research for Europe, the Middle East and Africa at property firm CBRE, claims that developers are worried about the possible consequences if the country does eventually abandon the group.

Dr Damesick’s comments come after his company released the results of a new survey which show that the majority (60 per cent) of investors in the UK’s commercial real estate market would be against such a move.

He was quoted by reuters.com as saying: “There have been growing signs of uneasiness among both domestic and foreign business in the UK regarding the potential consequences of exit from the EU.

“Our survey findings show that this uneasiness is widely felt across the European property investment community – very few investors can see a benefit while a large majority see a downside.”

According to ibtimes.co.uk, CBRE questioned 387 investors as part of the study, including some of Europe and North America’s largest insurers and sovereign wealth funds. Only four per cent of respondents said that Britain would be a more attractive place to spend if it left the EU.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

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