There are a number of factors that have combined to retain the appeal of investing in UK property as an attractive prospect for international buyers. Factors include global currency markets, Brexit, the impact of a pandemic on financial stability, regional variations in UK property prices, coupled with a high demand for rental properties.
Currency Instabilities
Foreign investors still regard the UK property market as an attractive investment, particularly if their own economies are experiencing periods of fluctuation or political change. Currency rates play a strong part in foreign investment in UK properties. If sterling falls, then the prospect of gaining more return on investment properties, for US or Hong Kong dollars, becomes an attractive prospect for international investors.
Post-Brexit Property Market
The technicalities surrounding Brexit, and the UK’s withdrawal from the EU, placed great strain and uncertainty on investments within the UK. Even so, foreign investors are capitalising on this uncertain period by investing in the UK, which is still considered a safe haven for foreign investors keen to invest their capital long-term.
Pandemic Support
The impact of the global pandemic on the UK housing market cannot be understated. The UK government responded by releasing a number of initiatives. Such unprecedented government support must inevitably attract foreign investors keen to take advantage of the UK housing market. Support included lenders taking a more lenient view of a customer’s financial status, and a Stamp Duty (SDLT) holiday, to retain confidence in the housing market and keep it buoyant.
The success of the latter was demonstrated by an increase in house sales. Competitive conveyancing quotes have given buyers an added incentive to save money during this stamp duty holiday too.
Regional Variations
Regional variations in property values in the UK market, have proved lucrative for foreign investors. The Prime Central London market (PCL) has always been an attractive prospect for foreign investors and is welcomed by the GLA, but high-end property prices in London have been fluctuating.
Initially this was due to Brexit concerns around the status of The City as an international trading centre, then influenced by the economic impact of the global pandemic. Such fluctuations have inevitably attracted foreign investors keen to speculate on reduced property prices recovering their previous value.
High Demand for Properties
A high demand for residential properties in the UK has fuelled demand for affordable housing. Potential home-buyers often use competitive conveyancing specialists such as https://www.samconveyancing.co.uk/conveyancing-quote when purchasing a property. Along with the stamp duty holiday, a competitive conveyancing quote can give property investors another incentive to buy. Foreign investors have also invested in buy-to-let property portfolios as returns in this area are potentially lucrative, particularly in those areas of the country with reduced property prices.
A combination of factors have impacted the economy, not just in the UK but worldwide too. However, the property market remains buoyant, which demonstrates the continued confidence in the UK for investment, even in times of global uncertainty.
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