UK property professionals vote to remain in EU

More than half of UK property professionals say that the UK should remain in the EU, reveals a new poll conducted by TheMoveChannel.com and OPP.Today.

The survey, which asked agents, developers and more around the world for their view on the hotly debated EU referendum, found that 56 per cent of British real estate respondents said that the UK should vote for a Bremain over a Brexit.

Outside of the UK, opinions were more undecided, with property professionals divided equally in half between the UK staying a member of the EU or going it alone.

The most popular reasons cited for staying included currency stability, retaining a strong British economy and keeping the UK “attractive as an access point to the EU for countries outside of it”. One agent in Portugal said that the UK remaining in the EU would “maintain a strong pound so British people keep looking for [property in] Portugal”.

The most popular reasons cited for leaving included immigration, sovereignty and currency volatility.

Brexit Survey

 

Property professionals from countries as diverse as Spain, Portugal, Poland, Brazil and the USA all took part in the survey, with some also offering predictions about what a Brexit would mean for real estate.

“Leaving will create much uncertainty for a long period of time due to uncertainty about future market conditions,” said one UK professional.

“In general, people will be penalized because companies will have more difficult to export, there will be more unemployment,” added a European agent. “Immigrants will have more difficult to live in England. The pound will download and the English purchasing power will decrease, so the real estate sector will decrease.”

“The initial impact will probably be negligible or a slight rise as foreign investors seek to buy property before the impact of any political consequences,” said one Leave supporter of the impact upon UK real estate. “Over the longer term, prices should remain stable as Britain regains control over who is allowed to enter the country.”

The results of the poll arrive as the two opposing campaigns continue to argue their cases right up to Thursday 23rd June, when the referendum takes place.

“This issue has been hanging over the industry for months and still, no one really knows what the outcome of the critical referendum will be,” comments TheMoveChannel.com Director Dan Johnson.

“The UK property world, though, has spoken in favour of Britain remaining in Europe, which is testament to the long-standing love affair between the UK and the continent. For buyers, and agents advertising European real estate, its homes remain hugely attractive: European hotspots such as Spain, Portugal and France are always in our Top 10 most popular destinations. Overseas interest in many countries within the EU is also a key driver in their housing markets’ growth, something that a Brexit could potentially disrupt. Whichever way the vote goes, though, is it reassuring to see that two out of three UK property professionals say uncertainty surrounding the referendum has not impacted their businesses – a sign that, despite media reports of caution, the property industry can still continue as normal through times of confusion and indecision.”

 

Notes to Editor

About Lead Galaxy and TheMoveChannel.com

Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.

The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.

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Do you need comment or statistics for an international real estate article? Our experienced editorial team and management are happy to collate data, provide example properties, or offer insightful comment to support your publication.

Please contact Ivan Radford on ivan.radford@themovechannel.com or +44 (0)207 952 7221

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