english property attractive to overseas buyers
News Posted On: 29 January 2009
The decline of the pound and falling house prices are making the UK a popular destination for overseas property investors, it has been claimed.
According to research conducted by Hamptons International, there has been a 20 per cent increase in the number of Europeans purchasing property in London.
The firm compared the last quarter of 2007 with the final three months of 2008 and found that there was a 12 per cent rise in the number of both Americans and people from Europe purchasing property in the country.
Rob Bruce, research manager at the firm, commented: "The devaluation of sterling has, without a doubt, created an extremely favourable climate for foreign investors in the UK."
Consequently, buyers considering purchasing a home with a view to selling it on at a profit could find that now is a good time to invest.
According to Nationwide Building Society, prices in the UK fell for the 15th consecutive month in January 2009.
Written by Les Calvert
Overseas Property - serving the overseas property market since 1992
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