London property snapped up by overseas investors as domestic buyers pull out after Brexit

  • Overseas property buyers are snapping up London property after the shock decision for the UK to leave the EU, even as domestic buyers, spooked by uncertainty, pull out.

Estate agents in the UK have been swamped with calls from Chinese, Middle Eastern, Italian and Spanish buyers looking for a bargain after the pound tumbled to more than 30-year lows, making the exchange rate very favourable for foreign buyers.

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Wealthy families in Italy and France are looking at London property as a safe place for their money in case the Eurozone falls apart Corbis

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