ouch, this is the icing on the cake, the pound has been taking a pounding, all these foreign investors are being double-hit in all their investments, - the pound down 30% - residential real estate down 30-35% (yes, not the 15% manipulated stats you get) With prospects for the UK among the worse, due to massive private and public indebtdness, unemployment strongly on the rise, no export no manufacturing, heavy reliance on services (among these a decimated banking sector), it will take a while before foreign investors come back to double up on poor investments. Well, with Russians and Arabs facing huge problems at home, there is no foreign investor left anyway. Once the pound has reached parity with the USD and the Euro, and if the UK doesn't end up bailed out by the IMF, maybe there is hope. By the way, the weather is really really bad. People living here should command a premium for such a constant poor weather. Overcast, rain, overcast, rain, that's all it is.
The British Pound Sterling is on the verge of historic collapse, as is the U.K. economy - both built on pillars of sand.
London is still cool as long as you have a huge amount of money, and a lot of patience. Food, drink and taxi prices are some of the highest in the world, and some of the worst value.
What is worriesome is that something like 1/3 of British economy is based on serving the financial sector, future involvement of which is unknown at this stage as changes are upon us. I am concerned now like I never was before, considering a permanent move to Spain or perhaps Eastern block, perhaps to Prague. Also water levels ARE rising & certain shores are being slowly but surely reduced, residents of some parts of the UK already had to be relocated because of that.
I was in the Light bar at the Sanderson last night and it was £15 for a glass of champagne, which is probably a world record. Bar was hopping but not a lot of pulling going down unless you were a footballer.
And you know what, it might get even more expensive. Looks like GBP/USD might be heading down towards 1.0500, madness!
keep cool BuyHiSellLo, don't be aggressive because you're stuffed with an overpriced low quality double bedroom flat that has lost 50% of its value when expressed in USD. I'm trying to counter the constant spin from the media and the government. It's over and yes, the weather is completely shite, and yes, it's time to move. goodbye London hello Mauritius
There are still some bargains to be had in UK Real estate market http://www.rightmove.co.uk/viewdetails-10456197.rsp?pa_n=6&tr_t=buy A right dump 1 bedroom flat for £220,000 Any takers?