Overseas Buyers and Brexit
The pound’s rate slip has piqued the interests of overseas buyers looking to secure UK property investments.
Since the Brexit vote, there has been a shift in investor opinions towards low-risk investment that offer high-income yield within the UK’s current property market. Since Brexit, there has been a notable increase of overseas investors looking to exploit the weak British pound for great returns.
There have not been many signs that the British property market will fall off the earth, as some opinions had suggested pre-Brexit.
Overseas buyers have been acting on this unique opportunity, and interest has risen from several countries including; China. Some reports have noted a 50% increase in interest from foreign buyers, hoping to take advantage of the 20% discount being offered due to a weak sterling.
London has always been a hotspot for global property investors. However, the current increase in overseas interest is a blessing for the UK market as domestic buyers have adopted a wait and see approach in some parts of the market, especially the top end prime locations.
A recent survey showed that 23% of homeowners aged 18-34 would be less likely to sell their home in the next three years. This cautious approach may well continue until a clear path has been decided on the exactly what Brexit means for the UK economy. Despite all this, experts say that property is still a reliable investment for both UK Nationals and overseas buyers alike.
It is important that buyers from all areas of the spectrum, remember that property is still the best performing asset class around. The demand for the UK market has not dissolved overnight, and looks as if it will not do so because of Brexit.
Tiger Bridging Ltd
152 City Road
London, EC1V 2NX
Contact: Matthew Dailly
Tel: 0207 965 7261