The National described now as an unmissable opportunity for investors, particularly from the United Arab Emirates, to invest in UK property, especially in the capital. In May this year, house prices in London had fallen 4.4%, the largest drop in value since August 2009 when they fell 7%, according to the Office for National Statistics.
The falling rate of the pound has only added to this value that can now be found in the capital for international investors. For example, a London property purchased for £500,000 the day before the EU referendum (22nd June 2016) would set you back $735,294. Today, however, that same property (assuming it is still worth £500,000) would only cost you $621,300 – a saving of over $100,000 – purely affected by exchange rates!
“International property investors trust the UK for its strength and stability, Brexit shouldn’t tarnish this reputation in the long-term” – The Telegraph
International investors are also taking advantage with the beneficial exchange rates while the supply of UK accommodation is lacking, compared to the demand. The government has set a target of 300,000 new homes to be built in the UK each year by mid-2020, however for this supply to actually be met construction needs to rise by 25% based off what it is achieving right now.
Source: Best Property Invest