The prices of central London luxury real estate have been predicted to increase by 8% by the end of this year by Savills plc, even though they had previously predicted last November that prices would fall. This increase is due in no small part to overseas buyers continuing to take advantage of the weak pound.
Foreigners spending billions on luxury London homes
June 11, 2011 by
Savills plc recently released its “World in London” report, which says that foreigners will spend $6 billion on luxury homes in the UK capital this year, partially due its reputation as a financial haven and the continuing weak value of the pound. The pound has lost 18% against a number of currencies since the end
