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Overseas buyers to take advantage of covid and Brexit discounts

overseas buyers discount brexit

Overseas property buyers could look to get a bargain this year, owing to potential savings caused by the pandemic and Brexit, said Fabrik Invest.

Investors are expected to mainly come from the Middle East, Hong Kong and South Africa.

Dale Anderson, managing director, Fabrik Invest, said: “The UK remains a promising and active market for fully managed buy-to-let properties.

“The country has a fundamental lack of supply and that’s unlikely to change; we simply can’t build homes fast enough.

“For overseas investors, Brexit actually presents potential for savings, as currency exchange rates fluctuate.

“Add to that the fact that Covid is bringing about opportunities such as discounted deals and suddenly 2021 is shaping up to be a huge year for the buy-to-let sector.”

Interest rates remaining at the historic low of 0.1% is also favourable for overseas investors.

Anderson added: “With borrowing rates at a record low, now is an excellent time to invest in property.

“The government is printing another £150 billion due to the pandemic – a move that will catch up with it eventually.

“It carries with it the potential for the currency to devalue and inflation to rise, meaning that tangible assets such as bricks and mortar carry an even more reassuring degree of safety than usual.”