+- Scivillage.com Casual Discussion Science Forum (https://www.scivillage.com)
+-- Forum: Culture (https://www.scivillage.com/forum-49.html)
+--- Forum: Games, Sports & Hobbies (https://www.scivillage.com/forum-53.html)
+--- Thread: UK housing market is a ‘goldmine’ for wealthy foreign buyers (property games) (/thread-6578.html)
UK housing market is a ‘goldmine’ for wealthy foreign buyers (property games) - C C - Jan 2, 2019
https://www.theguardian.com/business/2019/jan/02/uk-housing-market-is-a-goldmine-for-wealthy-foreign-buyers
EXCERPT: . . . Jonathan Samuels, the chief executive of property lender Octane Capital, said the 13% drop in the value of the pound compared with the dollar since the June 2016 referendum had turned the UK into “a goldmine for foreign investors seeking a bargain”. [...] “The weakness of sterling means a fair percentage of these buyers were almost certainly based overseas, as some of Britain’s wealthiest cities became a goldmine for foreign investors seeking a bargain. “While many homeowners sit on their hands during times of political and economic volatility, the ultra-wealthy often use these periods to acquire assets at a significant discount.”
MORE: https://www.theguardian.com/business/2019/jan/02/uk-housing-market-is-a-goldmine-for-wealthy-foreign-buyer