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London real estate might go down in value by 30% - SocGen

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London real estate might go down in value by 30% - SocGen

Real estate value in the capital city of Great Britain might come down more than by 30% as a result of Brexit voting, the experts of Societe Generale bank believe.

While according to the stress tests results, the major British banks indicated a 30% decline in free-market prices for real estate, we fear that the residential buildings in London might experience a still more slowdown. Brexit will damage British economy and a number of companies are more likely to have to move a part of their business, in order to preserve an access to the common European market”, - Bloomberg agency cites the bank's experts.

It's noteworthy, that the real estate value began to decline before the Great Britain's referendum on the EU membership in June, 2016.

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