'Brexit discount' makes London property cheaper
By Reuters In London | China Daily | Updated: 2016-08-17 08:05
Price cuts of nearly 20 percent and a drop in the value of the pound have created "Brexit discount" bargains on some of the most expensive homes in central London - if you have millions of dollars to spare.
The UK property market was one of the first sectors hit by uncertainty after Britons voted to leave the European Union on June 23, at one point forcing more than $23 billion worth of commercial property funds to be frozen.
Some wealthy foreign buyers saw an opportunity, however.
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