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Brexit could help foreigners buy up more of London

28 July 2016

One consequence of Brexit could be that more London properties end up in foreign hands.That’s the ironic product of Britain’s decision to exit the European Union — an outcome predicated in part on a desire to reduce immigration to the UK.Investors pulling money from UK property funds out of fear that real estate values will fall are forcing sales of prime properties in London.For certain investors, the timing couldn’t be better. With the pound hovering near its weakest levels since the mid-1980s, the purchasing power of overseas investors in the UK has risen at exactly the time when Brexit jitters are helping to expand the pool of properties available to buy.Source

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