LONDON: The property market in the United Kingdom is becoming increasingly attractive for foreign buyers, but it is widening the divide between richer homeowners and high-interest mortgage holders.of former Prime Minister Liz Truss in September last year, had caused a jump in interest rates which left domestic buyers struggling.UNDER PRESSURE
The situation has since stabilised. It is making the market particularly attractive to overseas buyers and helping to prevent a dramatic house price slump in the capital.Mr Ed Lewis, head of residential development at Savills, said: “I know what the hurdles are for, particularly the younger age group, getting into the property ladder.”
Pedestrians in the west London district of Southall, known locally as Little India. Many foreign property buyers come from Asia and the Middle East.