The current volatility of the UK’s economy sparked by the country’s decision to leave the European Union last month could provide profitable opportunities to foreign investors, writes Poole-based Richard Carr.
According to a report published by Arcadis, market conditions in the UK are ripe for opportunistic foreign investors by continuing to invest and store their wealth in prime property in London.
With property values stagnating and the sterling falling relative to the euro and the US dollar as a result of Brexit, latest reports suggest that buyers from Europe, Asia and the Middle East and ready to secure bargains in the London prime housing market.
Further falls are forecasted for the sterling before the year is out and some Banks don’t see it recovering until next year. Property agents are also suggesting that the recovery of prime London house prices might take a further year into 2018 meaning that those investing £2m into property may see their investments rise by as much as £250,000 in value.