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The Brexit-induced fall in the value of British pound has evoked significant response from Qatari private investors to buy properties in the UK.

ukrDOHA: The Brexit-induced fall in the value of British pound has evoked significant response from Qatari private investors to buy properties in the UK.

The UK has traditionally been one of the most preferred investment destinations of Qatari investors, but the recent sharp fall in the pound value coupled with the significant discount offered by real estate owners, has increased enquiries from potential Qatari investors.

“Qatari investors own approximately £1bn (QR4.7bn) worth of residential properties in London, with the majority in Mayfair. …and out of all the Gulf states, Qatar is the largest buyer and tenant group for luxury property within Mayfair,” said Ravvy Kaur (pictured), Valuation Advisor at DTZ Qatar told The Peninsula.

“Consultation with our London office has revealed that there is a 25 percent jump in the number of enquiries from potential investors from the Middle East, including Qatar, the UAE (Dubai) and Saudi Arabia after the referendum on Brexit in June,” Ravvy said.

The surge in enquiries was largely due to the up to 25 percent discounts the investors are now getting as compared to the pre-Brexit prices— nearly 14 percent on the exchange rate and some 10 percent discounts on the asking prices of properties.

 

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