property deals
SA investors cashing in on Brexit
A weaker pound and softer house prices are prompting SA investors to take a fresh look at buy-to-let opportunities in the UK
A decade ago, just about every SA real estate agency was punting buy-to-let investments in the UK. British house prices had slumped in the aftermath of the 2007/2008 global financial crisis and the general view back then was that if you had R10m-plus to spare, there was no better time to invest in a posh pad in central London.
And that view was about right: if you’d bought residential property in popular Chelsea, Kensington or Mayfair in March 2009, you would have seen capital growth of a spectacular 75% within six years (see prime central London line on graph). Returns for SA buyers were, of course, further boosted by the rand’s 60% slide against the pound over the same period...
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