Real Estate

American homebuyers find UK bargains, discounted by a weaker pound

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Street in Chelsea district, London

Alexander Spatari | Moment | Getty Images

American homebuyers are searching for bargains in the U.K., as a weaker pound contributes to double-digit price cuts.

The fall in the British currency, which is off 17.5% against the U.S. dollar year to date, has made U.K. real estate cheaper for buyers paying in U.S. dollars. Prices in London are down nearly 20% over the past year on price declines and currency impact, according to real estate broker and advisory firm Knight Frank.

Brokers and real estate experts say the drops have created a rare investment opportunity…



Source cnbc.com

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