Property News · July 7, 2016

Overseas buyers 'keen to exploit weak pound to buy London homes'


Foreign investors could save about £100,000 on £1m property due to post-referendum collapse of sterling, property consultancy saysThe plunge in sterling following the UK’s decision to leave the EU has prompted a flurry of interest in luxury homes in London from overseas buyers, who stand to save about 10% of the cost of buying a £1m property, a property consultancy has claimed.Arcadis said its clients had reported “a bounce in inquiries” since the referendum, with investors keen to make the most of the favourable exchange rate. The firm’s head of commercial development, Mark Cleverly, said that family offices, which represent wealthy clients, had also been “pretty active” in the market. Continue reading…

Source : theguardian.com
Read more…Overseas buyers ‘keen to exploit weak pound to buy London homes’

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