Luxury properties snapped up by foreign buyers after pound fell

“The global super-rich have taken advantage of the Brexit-induced decline in the value of sterling to buy up three times as many £10m-plus luxury homes as before the referendum vote.

Some 300 homes sold for more than £10m each in the tax year to April 2017 (the latest for which figures are available), an increase from 100 sold during the preceding 12-month period. The figures, released by HM Revenue and Customs on Wednesday following a freedom of information request, were rounded to the nearest 10 by HMRC. …”

https://www.theguardian.com/business/2019/jan/02/uk-housing-market-is-a-goldmine-for-wealthy-foreign-buyers

One thought on “Luxury properties snapped up by foreign buyers after pound fell

  1. Hurrah!! At last some cheery news – even if it is only that the Tory Parties ultra-rich friends abroad have been able to take advantage of the Brexit-induced weak pound to snap up bargains (not just luxury homes but also airport operators too) even if the rest of us who are resident in the UK are only benefiting from Brexit-induced price increases.

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