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Wednesday 30th July 2008
The last few weeks has seen an increase in demand from overseas property investors for assets in the UK, with investors from Dubai very much at the front of the queue. So what is it about UK property which is attracting this overseas interest and will it continue?
Places like London have always held a special place in the minds and hearts of many in the property market. It offers one of the more multi-cultural populations in the world, has a range of priceless property addresses and seems to bounce back quickly after property market slumps. London really is a property market within the UK property market often performing very differently from other property markets around the country.
However, the reason why UK property in general is popular at the moment is a mixture of the historic strength and demand as well as weakness in sterling which allows overseas investors to get more value for their money. When you are buying a property for in excess of £1 million a ten percent swing in the currency rate can and does make a real difference.
While UK property investors are sitting on their hands at the moment, interest from overseas is still gathering pace. |
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