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TODAY'S OTHER NEWS

Weak pound attracts fresh foreign investment in UK’s property market

The ongoing uncertainty over how the UK will leave the EU has seen sterling drop against the dollar and euro and this has enabled foreign investors to acquire UK property more cheaply than before. 

With more jerky price swings on the horizon it would appear that there is plenty of room for growth of foreign investment in the UK’s property market, with many investors targeting solid rental returns and good prospects for capital growth. 

According to Commercial People, a global free-to-list property portal, there has been a notable rise in demand from international investors for property in the UK. 

Based on growth in buying enquries, the PropTech firm has seen strong appetite of late from foreign investors looking to invest in UK property, especially as sterling's value continues to underperform.

Kimberley Turner, head of property consultancy Bruton Knowles, said: "The weakness of the pound has encouraged more overseas investors to do deals in the capital and has also enhanced tourist trade in London [as well as other key regions across the UK].”

While the commercial sector is receiving a major share of foreign investor attention, there remains a significant allure from the residential sector in attracting overseas property investors in prime areas such as London, Birmingham and Manchester, according to  Commercial People. 

Christopher May, director of Commercial People, said: “International investors see London as a safe haven for their capital.”

He added: “The weakness of sterling has made buying UK property a lot more attractive, and we are seeing a considerable amount of traffic coming from the EMEA region.

“Our traffic shows the potential for international investors is definitely on the rise.

“In addition to this, we are also in dialogue with most of the big developers in the EMEA region who are now setting up offices in London, as they feel that they can easily sell to their existing customers looking to buy in the UK.”

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    Funny how the left NEVER mention this as they would have to say 'landlords', 'attack' & foreign in one sentence. It wouldnt sound good would it

    Paul Barrett

    Haven't these foreign investors read the Labour Party proposals for Private rental property!!??
    Nobody in their right mind would invest in private residential rental property until the results of the GE are known.
    Even then what happens in another 5 years?
    Always the risk of a barking Labour Party winning the next GE.
    Property investors don't do so for 5 year periods.
    They need long term assurance that their assets won't be expropriated.

    Until the risk of a bonkers Labour Party is removed it is pretty pointless investing in private rental property.
    So I suggest Labour get rid of Corbyn install DAVID Milliband as Labour leader and stop Labour Party members being able to elect future leaders; leave that for Labour MP's to decide.
    That means getting rid of the Looney Momentum fringe.
    Even bring back Blair.
    At least Labour back then was fairly benign and not a perceived threat to property rights.

     
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    Unfortunately David Milliband is onto a better deal working for a charity $1mill a year

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    And would you give to that charity? I certainly would not, that's where the money goes, to the fat cats at the top.

     
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    Its quite shocking that a charity would consider paying these salaries. Polly Neate Shelter (£150k) blaming everybody but the tenant. That would pay for 25-30 houses a year to house families

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    Well said Jahan, Charity Status indeed. I am for ever on about this, if they are so great & want to help people so much, their services should be almost free, quiet a few of them are on over £100k pa.

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