The Pounds Paid Could Be an Investors Gain

For overseas investors looking to take advantage of the strong UK property market, now could be the prime time.Thanks to the favourable exchange rate, a £1 million home in London that would have cost $1.7 million in 2014 currently costs only about $1.15 million.

Exchange rate forecasts from Oxford Economics predict the pound will strengthen against the dollar between now and 2026, suggesting that now is the perfect time for overseas buyers to take advantage.

This is also relevant for those investors based in a USD economy, such as the UAE. With the local dirham currency pegged to the dollar, they now have more buying power. For those investors, UK assets have effectively gone on sale.

JLL’s industry experts say, “London has always, historically, been a safe haven for wealthy individuals from Gulf states who are looking to diversify their assets, being one of the most resilient and transparent property markets in the world. The weaker sterling, alongside the safe-haven status usually associated with UK real estate, is driving and will continue to drive investment here.”