Abode2 - Volume 2 Issue 12 2016
Abode2 - Volume 2 Issue 12 2016
English | 120 pages | True PDF | 101 MB
Abode2 is the No1 Google Ranking luxury property magazine focusing exclusively on the finest residential homes and premium developments across the globe. A must-have read for anyone serious about buying in the UK or overseas, be it for investment, lifestyle or retirement purposes, Abode2 offers distilled advice from expert sources: acknowledged property specialists, investors and owners, all with a detailed knowledge of the destinations and resorts featured.
Check out our website for feature tasters from our forthcoming edition, along with the latest property news and views from around the globe. Our Gurus To Go section features in-depth interviews from homes and interiors experts including Sophie Conran, Philippe Starck and India Hicks.
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Abode2 Property Magazine
As David Cameron formalises renegotiated EU membership terms, Laura Henderson, Managing Editor of Abode2 Luxury Property Magazine assesses the likely impact on foreign investment in UK property
As we surf the interim panic waves as Britain resettles its terms of EU membership before a vote here in June, there's little doubt that any referendum result on our country's relationship with its most influential trading partner will create financial losers as well as winners. But what lies in store for the UK property market?
One nationality is already blazing a trail of sorts and could heavily influence the market this year. Continuing capital outflow from China, whose investors are now looking further afield for profitable investments are noticeably more active in the Mediterranean - property yield prospects on the expectation that euro zone interest rates will remain near record low levels and the potential for investors to benefit from income growth are pushing Asian interest in Italy, Spain and Portugal.
When it comes to the domestic market of owner-occupiers however, Brexit may not make much of a dent as far as domestic supply and demand is concerned. With the continuing demand-supply imbalance - demand will still reign supreme. House prices are largely informed by incomes. So, the Brexit question when it comes to housing is, whether it will affect the trajectory of income growth. Long-term, it's hard to see any step-change difference. But, if the government wants to increase property stock, foster stable housing market conditions with an uptick in mortgage lending, more investment in housing, including new funding sources - uncertainty may mean buyers might not get as much of a return as they might get with stability.
Traditionally, general elections tend to have a comatose effect on house sales, particularly on the higher rungs of the property ladder, as buyers weigh up whether to buy investment properties, rather than simply upsizing for extra square footage. Last year's election was a notable cliff hanger, as it raised the threat of Labour's mansion tax. As such, the prognosis is perhaps more cut and dried. In fact, the Brexit prospect is already hitting the value of sterling where it hurts, with a nose dive anticipated if Britons vote to leave. Cue London Mayor, Boris Johnson's bombastic show of support to a Brexit, with an ensuing sterling fall-off to a seven-year low against the US dollar.
Top investment banks including Goldman Sachs have warned a Brexit could cut sterling by a fifth in value as investors flee the pound. Those with a footprint in London may choose to sell up rather than watch their assets lose value as sterling falls. For sterling – fun and games will not be the order of the day. More the uncertainty that will weigh on the currency, rather than investors taking a view on the outcome and the implications for the economy, which are hard to argue either way.
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