Nearly three-quarters of UK property investors believe the prospect of a British exit from the European Union is a real one and half feel this would lead to a fall in real estate prices, a new survey has found.

Nearly three-quarters of UK property investors believe the prospect of a British exit from the European Union is a real one and half feel this would lead to a fall in real estate prices, a new survey has found.

The UK's Conservatives have given a commitment to hold a referendum on Britain's membership of the European Union if the party wins the upcoming general election in May.

This could lead to the UK leaving the European Union, which headline writers have abbreviated to 'Brexit'.

Although there is no guarantee the Conservative Party will still be in government after the election a survey conducted by law firm Maples Teesdale among British property owners found 73.5% think Brexit is a real possibility.

Some 54.3% of respondents believe Brexit would make the UK a less attractive marketplace. And 50% of investors believe Brexit would lead directly to a fall in property values.

Support for a British exist from the European Union stands at just 23.5% and just 12.9% believe their business stands to benefit from a potential exit. However, there is widespread support for a review of Britain’s existing relationship with the EU, with the general sentiment being, 'reform, but do not destroy,' Maples Teesdale said.

Although the prospect of a full departure from the EU is some way off, 19% of respondents admit that their investment decisions have already been influenced by it.

Neil Sagoo, partner at Maples Teesdale, said: 'Regardless of their political inclination, what investors value above all else is certainty. The prospect of a referendum under a Conservative-led government casts a shadow of uncertainty over a market in which cross-border investment activity has become the norm. If trading across these borders becomes more difficult, there will inevitably be an impact on the property investment market.'

He continued: 'We have already seen this on a micro-scale when the Scottish referendum slowed activity and depressed prices north of the border, only for the market to recover afterwards. While this scenario presents some opportunities for speculators, it is not the ideal climate for investment to flourish.'

The occupier market could also be hit hard by an EU exit, according to the survey in which 53.6% of investors thought it would encourage major corporates to leave Britain.

The survey’s conclusions were drawn from the opinions of 117 targeted individuals at major organisations including Aberdeen Asset Management, CBRE, F&C REIT, JLL, Knight Frank, Lloyds Banking Group, M&G Real Estate, Moorfield and Standard Life.