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Overseas buyers race to secure London property bargains after Brexit vote
June 25, 2016
“This morning we agreed a sale of a house in Belgravia to an Italian client who is making in total a 12 per cent saving, partly due to the currency,” said Charles McDowell, a Chelsea-based estate agent. “The currency meant he got an extra discount on top of a discount on the asking price.” The buyer planned to convert the cash for the full cost of the house, about £18m, into sterling immediately to make the most of the decline of the pound against the euro following news early on Friday that the UK had voted to quit the EU, said Mr McDowell.
