The UK remains one of the world’s property hotspots. It has one of the highest property ownership percentages anywhere in the world- The British believe in bricks and mortar. It’s in their DNA to want to own their own home. Consequently there is always a strong demand for the property stock.
But for many it will remain an aspiration, as they may not have the financial possibility to buy. This in turn creates a strong demand for rental property. This has resulted in the most sophisticated Buy to let mortgage market in Europe.
So we see a demand for overseas buyers purchasing for both personal use and also for investment purposes.
The Brexit uncertainty has played into the hands of property investors living and working outside of the UK.
The overall prices of UK property has generally reduced since 2016- making it an attractive time to buy.
The exchange rates have moved against Sterling- making UK property investment cheaper still for non-residents earning outside the UK
Many Singapore and Hong Kong banks have withdrawn from the UK market and perhaps taken a sabbatical until Brexit is resolved?
Our view is that property investment is ideally a medium to long term proposition and the short term uncertainty should not cloud the bigger picture. As we state in the points above, it could be a window of opportunity. Certainly going by our current business levels and enquiries many of our clients thinks so.