Overseas investors continuing to buy in post-Brexit London

 
Overseas investors continuing to buy in post-Brexit London [Photo: johnkellerman via iStock]

In the weeks that followed the Brexit vote, it was revealed by leading property consultancy Knight Frank that there had been a real surge in the number of people from nations across the globe coming to buy in the UK to secure themselves some of the most sought-after properties in the world at a lower price than they might get at any other time. 

In the days post-Brexit vote, we saw the pound drop sharply against all major currencies as uncertainty reigned supreme in the economy, and this meant that investors from countries not using sterling were able to get themselves far more for their money. It meant a swell in enquiries coming from both the Middle East and Far East in particular. 

And this is something that has continued in the market ever since, according to one of the largest Chinese property companies. Juwai has reported that ever since the Brexit vote on June 23rd, there have been rising numbers of Chinese investors trying to buy in the UK, and in the month after the vote, this was 40 per cent higher than usual. 

So what's the reason for this happening? Of course, the main factor has been the fact that the investors from other countries can get themselves onto the property ladder in the UK for less. But it's also down to the resilience and strength that UK property sees throughout the years. 

For example, even in the years after the last recession in 2008, we saw the London property sector in particular, and the UK market as a whole, bounce back, eventually climbing to all-time peak prices. And with demand for rental properties currently at an all-time high (fewer than 65 per cent of people now own their own home in the UK), there is increased potential for strong returns for investors, which will mean more people than ever before from overseas choosing to invest in the UK, even when it's uncertain as it is at the moment.