UK housing market is a ‘goldmine’ for wealthy foreign buyers (property games)


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.”


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