The number of UK property owners abroad reaches a maximum of five years.

Brexit has not been an impediment for the British to continue buying properties abroad.

The number of foreign owners owning property in the UK has reached a five-year high of 184,000, representing a 19% increase in five years, according to Ludlowthompson. Ludlowthompson says that the rise in the number of overseas homeowners shows that Brexit has not been an impediment to those looking to invest in UK property, as many foreign investors have capitalized on the drop in the value of the British pound between the EU referendum and Brexit try to add to your portfolios.

Favorable exchange rates meant foreign buyers were able to get more for their money, opening up the market to a broader pool of investors, the realtor says.

Ludlowthompson adds that despite tax changes, UK property will continue to be an attractive investment prospect in the long term for investors in many foreign jurisdictions.

Research shows that in recent years, there has been an increase in the number of Hong Kong property buyers in the UK. It is expected to increase following the launch of the new visa for Hong Kong British National Overseas passport holders.

The reputation of UK schools and universities has also benefited the property market. Ludlowthompson says that many foreign owners who have bought properties have done so to provide accommodation for their children who were studying in the UK.

Homeowners abroad have benefited from the stamp duty holiday, which has enabled buyers to save up to £ 15,000 on properties worth £ 500,000. The holiday will run until June 30, after which stamp duty will be reintroduced on properties worth £ 250,000 and applied to properties above the £ 125,000 threshold as of September 30. Starting April 1, foreign owners will be required to pay a 2% stamp duty surcharge on an investment property.

“Astute foreign buyers have taken advantage to invest in UK properties.”

Stephen Ludlow, Chairman of ludlowthompson, said: “Fears that Brexit could slow the attractiveness of UK property to foreign investors have been unfounded, and the number of foreign owners has reached a record high.”

“Many astute investors took advantage of the temporary drop in the value of the British pound to buy property in the UK and benefited from both a rise in property prices and the recovery of the British pound.”

“Investments by foreign owners in properties bought to rent in the UK have ensured that there has been a steady flow of capital into that sector, which has kept the quality of rental stocks much higher than would have been the case of these investors.”

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