Following the EU Referendum yesterday, the UK majority have voted to leave the European Union; and come October, Britain will have a new Prime Minister and Government; But how does Brexit affect investment properties for sale in the UK? ‘Brexit’ for many people, in particular many investors spells uncertainty. But what effect will this have on UK Property? Property investors who regularly invest in the UK will be asking themselves ‘how does Brexit affect me?’.
How Does Brexit Affect Investment Properties For Sale In The UK?
Whilst Brexit will and already has undoubtedly affected buyer and investor confidence, a weakened Pound presents exciting and enticing buy to let property investment opportunities for foreign investors wishing to invest here in the UK. Particularly if the Pound continues to lose ground on a sustained basis. Foreign investors can effectively ‘get more for their money’ and take advantage of the temporary turbulence in the UK property market caused by this morning’s decision to leave the EU, creating an increased number of property investment opportunities, which in the short term at least provides competitively-priced assets available for purchase here in the UK.
Chinese investors are amongst the largest and most prolific investors when it comes to UK property and investment properties for sale in the UK. When considering investing in property abroad, the UK, alongside the US, Australia and Canada are amongst the favoured locations for Chinese investors. Juwai – China’s largest and most popular property portal recently conducted a Brexit survey to assess what impact the UK leaving the EU would have on Chinese investors of UK property. 46% of respondents in the recent Juwai Brexit Survey felt that demand for UK property would actually increase rather than decline if Britain were to exit the EU. A further 71% of Chinese respondents felt there would either be little to no change due to a Brexit, or there would be increased levels of demand for UK property.
What Does the Future Hold?
Although the vote for Brexit and the decision to leave the European Union does create and introduce certain uncertainties, for the most part on the whole it will be business as usual for the time being with no immediate shift in the UK’s status within the EU. Any exit from the EU would need to be negotiated and this would most likely result in the UK negotiating some form of alternative or ulterior relationship with the EU bloc and EU states so that both may continue effective trade going forward. Of course in time, buyer and investor confidence will begin to return, and once the dust begins to settle, and a new government formed, we are confident that the UK property market will continue to thrive and show it’s resilience. The UK economy is one of the strongest and most secure of anywhere in the world, and we certainly do not envisage this to change overnight.
View our excellent range of investment properties for sale in the UK and contact us today to discuss how you can take advantage of the increased number of property investment opportunities arising post-Brexit.