Real estate values would drop significantly if the UK votes to exit the European Union at the referendum on the topic on 23 June, according to Joey Kaempfer, chairman and founder of the McArthurglen Group.
A Brexit would be devastating, he said during an interview at the annual INREV conference in Vienna on Thursday. ‘I’m sure the value of houses in London would be cut by 20-25%. Real estate values could be really hit.’
Kaempfer said he hoped and thought that a Brexit would not eventuate, but added that he thought the concept was ‘so bizarre, it’s hard to believe’. ‘It’s really beyond me. I don’t know how [prime minister] David Cameron could allow this to happen…I don’t get it, it’s a disaster.’
