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Overseas investors surge into UK market

Friday, 20 February 2009 2:33 PM

A group of property investment specialists have seen a rise of 55 per cent in enquiries from overseas investors looking to purchase property in the UK.

Assetz says falling property prices combined with a weak pound have encouraged an attractive property investment opportunity in the UK from overseas investors.

Investors from around the world, and in particular Hong Kong, are actively seeking UK residential property with a long term view, according to Assetz.

Stuart Law, chief executive of Assetz, said: "Despite the falling property market, investors still recognise London in particular as one of the most desirable places to own property in the long term, with the supply/demand imbalance set to support a recovery in prices.

"Irish and other euroland investors currently moving their cash over to the UK are buying at the best possible moment, as the distressed property market reaches the bottom and the Euro is relatively strong against the pound.

"Once the Euro weakens against the pound, and the UK market begins to firm up, Euro buyers purchasing in the UK would have missed the best buying opportunities, both from an exchange rate and price point of view."

The global economic downturn is creating opportunities for cash rich investors, who recognise they can take advantage of the weak pound to maximise their own funds.

Assetz claims this influx of cash from foreign investors will help to break the stagnation in the UK property market and ultimately contribute towards a stabilisation of prices.

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