Overseas buyers are cutting their losses and reselling yet-to-be built flats in London as strong pound and oil price plunge takes its toll,warns CluttonsThousands of unbuilt flats and apartments could advance back on to the London property market over the next two years as foreign investors seek to cut their losses, according to a unique study.
In their latest report on the residential market, and researchers at estate agent Cluttons said a large volume of newbuild stock was flowing on to the off-device resales market,“as buyers, particularly those of an international flavour, or try to exit the market as currency advantages,especially for those from emerging markets, fade”. Continue reading...
Source: theguardian.com