Brexit will impact investors in the real estate market with currency drop

KUALA LUMPUR: Britain's exit from the European Union (Brexit) would affect Malaysians investing in British real estate due to a drop in the currency.
Speaking to reporters at a briefing today, Allianz SE chief economist Dr Michael Heise said a Brexit would result in a substantial depreciation of the pound, as much as 20%.
He said this would hurt the real estate market in London, while many investors would adopt a wait-and-see stance.
The impact of Brexit on trade relations between Malaysia and the UK will not be huge.
"Any weakening of the UK economy is not positive for Malaysia but it is not a huge impact. It will be felt but it will also be temporary, maybe two to three years before normalising again," he said.