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Agents See Increase in Overseas Demand for UK Property

Real estate agents have reported a rise in demand from overseas investors as they seek to take advantage of Brexit and the recent currency fluctuations.

Real estate agents have reported a rise in demand from overseas investors as they seek to take advantage of Brexit and the recent currency fluctuations.

Since the UK’s decision to leave the European Union was first announced six weeks ago, there have been a number of high profile property investments made in the UK market by international investors looking to capitalise on a favourable exchange rate.


A consortium of Saudi and UK investors launched a $1.3 billion bid for the Governors House Hotel in London, with a representative for the bidding party indicating that the deal is being hurried, in order to allow the overseas purchasers to take advantage of weaker Sterling.


In a similar trend, some agents have reported a rise in private and corporate investors interested in investing in UK property, in particular, the high end of London’s property market.


Agents have reported that the interest has not come from European institutional investors, as is usually the case for high profile investments in London. Instead, it is private and corporate investors who are looking to buy in the capital, denoting a shift in those pursuing the capital’s property market.


Jassim Alseddiqi, chief executive of Abu Dhabi Financial Group, indicated that his company has seen greater interest in their London properties from buyers in the Gulf in the wake of the referendum, indicating that enquiries have risen by more than 25%.


Mr Alseddiqi also said that the company has further plans to expand upon their property portfolio in London, with the company’s pipeline already standing at £2 billion.

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