Expats take advantage of the weak pound by buying properties in UK
A lot of expats that live in Britain are taking advantage of the weak British pound and are buying property in UK. Property agents are indicating that they are being contacted by an increasing number of potential buyers not just about prime central London properties but also those in the Home Counties. In addition to foreigners who are capitalizing on the weak pound, there are also, British citizens who are repatriating and they can profit from the situation too. There are a number of people who work in finance and are currently returning home from abroad, wanting to purchase a home. Many emigrating Brits leave the UK as a couple, rent out their London flat while away, and then return with a young family in tow. Most of them are given salaries in foreign currencies and after their return they see the value of their money increase against the British pound. Such returning expats typically look to Home Counties favourites such as Kent, Buckinghamshire and Surrey to relocate their families near good schools. In addition to that they can capitalize on the increased demand for property by selling their house. International buyers are also spreading their wings away from upmarket and central London districts such as Kensington, Chelsea and Mayfair. However, these buyers tend to be looking for country mansions with land to add to a diversified property portfolio that might include a Swiss chalet and a central London penthouse.
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