Investors and business people want stability in the marketplace. But so do Brit #expats living in Crete. So what would a #Brexit mean for UK Property?
Here is a good take:
In a recent City AM interview, very successful property investor, Rishi Passi the chief executive of Oblix Capital said that in the case that Britain did choose to leave the EU, perhaps the greater risks are from interest rates and lessening of interest from Chinese buyers due to that country’s softening economy.
Should the UK leave the EU, many are concerned that a sudden dip in capital from overseas could see the pound suffer a sharp but short term decline, which may decrease the attractiveness of the market – something we’re already witnessing with the pound currently at its lowest point against the USD since 2008.
Either way, we’ll certainly be in for a bumpy ride over the next few months, but it’s important to remember the property market will still be there. and perhaps not as disastrous as early fears would suggest.
I appreciate that most of us are not involved with the higher end of the UK property housing market. But we all know that what happens in London and other property hotspots can affect the rest of the country. It is a market reality.
Just a reminder: We are running a mini poll to gauge the sentiment prior to the EU IN/OUT Referendum itself on June 23. If interested please visit the #Brexit – Expat Mini Poll and cast your vote. All Visitors and members welcome to participate.