The property discounts enjoyed by overseas investors since Brexit

The property discounts enjoyed by overseas investors since Brexit

Recent figures from the ONS HPI (Office of National Statistics House Price Index) have revealed the level of discounts that overseas investors have been enjoying since the Brexit vote. The value of the pound has dipped significantly since the UK voted to leave the EU in June 2016 and this has resulted in foreign investors cashing in on very favourable UK property deals. Here are some of the key findings from the statistics:

  • South African and Russian investors have been enjoying the best deals, obtaining discounts of 21% on UK property compared to before the Brexit vote. In real terms, this means that a house that would have cost £1 million pre-referendum can now be snapped up for £841,000
  • Brazilian investors have come a close third in the ranking of those countries enjoying the best deals, with 17% discounts on UK property.
  • Global powerhouses India and China have been enjoying 15% and 13% discounts respectively with the latter being one of the key investors in UK property both on a residential and commercial footing.
  • Other countries enjoying discounts well into double-figures include Australia, Canada, Mexico and of course, the countries that make up the European Union.

The figures represent the extraordinary value UK property represents to overseas investors and this doesn’t look like abating any time soon.