The aftershocks of Britain’s decision to leave the European Union have hit the property sector over the past week, with a foreign bank freezing loans for buyers and some investors pulling out of commercial deals.
Some foreigners, however, are already making the most of the drop in the pound post-Brexit to snap up what they see as residential bargains.
London property has long been a magnet for foreign investors, be it extravagant homes or iconic commercial real estate, and prices in the capital have sky-rocketed.
Key to overseas investors will be whether the fall in the value of sterling is attractive enough to offset the political vacuum, expected economic slowdown and questions over market access that have resulted from Britain’s vote to leave the EU.
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