UK house purchasing may motivate amongst Singaporeans though a Leave vote would see the British pound plummet.
This comes as many prospective buyers here have been taking a wait-and-see strategy over the last couple of months. Marketplace specialists, nevertheless, consider quantities could quickly recover should Britain remain in the EU.
Management consultant Jimson Cheng disclosed that while he isn’t selling his Central London condominium, he’s chosen not to make any additional investments. “ as costs are higher now, and I’ve buddies with over 10 London properties that have determined to liquidate a couple of as a result of uncertainty.”
He said with home demand in London much exceeding supply, the guidance most folks have given him “is to hang on to your unit”.
Regional Manager Doris Tan, of London business Strawberry Star Group, credited the slower sales registered to the referendum in part since the beginning of 2016. The delay-and-see strategy found property sales drop by around a third, said Group Chairman Alistair Elliot and Knight Frank senior associate.
Elliot said the biggest short term impact of a Leave vote would be a run on the sterling, which could then encourage more property to be purchased by foreigners.