After taking a severe pounding (pardon the pun) in recent times, the UK pound is showing early signs of recovery. When Boris Johnson took over as prime minister in July 2019, the pound was trading at $1.22 against the US dollar. Back then, all the talk was of the doom and gloom variety… How low can it go? Is the UK economy collapsing? Is there anything that can be done?
Owning an overseas property is all the rage right now. Due to global trends such as Brexit and the US-China Trade War, property prices in many “first world” countries have dropped significantly. There are plenty of “hidden and unglamorous issues” associated with owning an overseas property.Let’s cut through the fluff, pull back the curtains and reveal 3 REAL TRUTHS behind an overseas property purchase.
In its heyday, the UK pound was considered one of the strongest currencies in the world. However, you’ll notice the gradual downtrend over the years. At this point of writing in 2019, the exchange rate has dropped to an all-time low of 1.70. So what does this mean for property investors?
After holding numerous UK property showcases in Singapore, Hong Kong and China, we realized that majority of investors are concerned about the ongoing Brexit developments (or lack of). It’s understandable. Many are unsure about buying UK property during this turbulent period. Will the value of my property drop? Will there be new regulations? What are my future options if things go wrong?
Purchasing a property is a very customized process. Everyone has his/her own specific situation, purchase objectives and investment goals. Which means your “profit path” will be dependent on those factors, and is usually determined on an investor-by-investor basis. This article will examine both options in detail, and aim to help decide on the right option for you.
Last year, a study revealed that £4.4 billion worth of UK properties were purchased by buyers with suspicious wealth origins. And that’s likely to be just the tip of the iceberg. The truth is, money laundering is real. It exists. It’s not just a fancy plot you see on movies or TV shows. In reality, money laundering is a lot less flashy and a lot more subtle.