h property prices in Britain expected to plummet post-Brexit, foreign investors, especially in Asia, are already poised for a buying rush.
It is an ironic twist to the shocking referendum result that was fueled by those who saw their vote to leave the EU as a deterrent to outsiders looking to take advantage of economic opportunities in the U.K. The aftermath of Thursday’s vote resulted in the resignation of British Prime Minister David Cameron and the collapse of the pound to a 31-year low. There was pandemonium across the board, affecting currency, equity and oil markets. Property prices are also expected to take a hit, with reports of buyers pulling out of transactions due to market uncertainty.
But while there may be a “wait and see” approach for some, ambitious foreign investors are on the hunt for bargains while the exchange rate is so low.