The Pound Sterling has fallen to its lowest level against the US Dollar since 1985.
As the oldest currency still in use today, the fourth most traded currency, and the third most held reserve currency in the world, the British Pound has undeniable strength.
CURRENCY OPPORTUNITY
The Pound Sterling has fallen to its lowest level against the US Dollar since 1985.
Many international property buyers have already taken advantage of the currency opportunity that was created in 2016, following the EU referendum, but the further weakening of the sterling is now raising new interest.
“Taking into account the property price corrections seen in the prime London market since Q1 2016, alongside the currency adjustment, a buyer denominated in US dollars will be paying 22% less for a £1m property in March 2020, than in Q1 2016”, according to Savills.
Historically, these London properties have been a resilient long-term investment, even though times of economic hardships.
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