American homebuyers are finding UK bargains, discounted by a weaker pound
American homebuyers are finding UK bargains, discounted by a weaker pound
Abstract
The fall in the British currency has made U.K. real estate cheaper for buyers paying in U.S. dollars. Prices in London are down nearly 20% over the past year as a result of price declines and currency impact. Brokers and real-estate experts say drops have created a rare investment opportunity for Americans to buy into the U.k. real- estate market. "We don't see much pure speculation," says Paddy Dring. The buyers are usually driven by a business or education or lifestyle. The savings can be substantial. For those with money, however, the savings can also be substantial, but the savings could be significant.
