For British developers and Chinese investors looking to benefit from a cheaper sterling, the recent Brexit seems to be an opportunity for foreign buyers to puchase high-end properties at bargain prices, reports Forbes (24 June 2016). Developers and luxury real estate agents are likely already re-position their sales pitches to foreign buyers eying the UK property market. Charles Pittar, CEO of Juwai.com, weighs in on how Chinese property buyers are expected to respond to the Brexit. Key to this is that a cheaper sterling makes UK property a particularly great value – especially for Chinese who are much more likely these days to take note or prices, exchange rates, investor and larger economic conditions. Buyers interest for UK property on Juwai.com has remained, and is expected to still grow even as implications of the Brexit loom. Those motivated to buy with their children’s benefit in mind are also more inclined to put greater weight on the fact that UK universities will still rank among the most in demand in the world.
