As the United Kingdom begins to unwind its membership of the European Union the British currency, according to many analysts, will continue to depreciate. Is this a once in a lifetime opening for Asian investors.
Real Estate is the obvious asset that many wealthy Asians are looking to pick up at a discount. Prime London and provincial cities with good Universities have always been popular with Hong Kong and Singaporean investors and the dilution of the British currency has stimulated investment activity.
Heightened Interest
«I wouldn’t be surprised if we see a bit more activity over the next few weeks in residential and commercial markets, investors may take advantage of a much cheaper pound and speed up their investment decision,» said Alistair Elliott, Knight Frank Group Chairman.
However as well as real estate looking attractive to Asian high net worths, more spiritual assets are also gaining attention.
Alternative Assets
Art, wine, vintage cars, antique watches and other passion investments are also cheaper and this once in a lifetime window has stimulated activity across the spectrum of collectables.
Speaking to finews.asia Marco Kaster, Investment Director Hong Kong at rare stamps, coins and other collectibles specialist Stanley Gibbons commented «Many of our Asia-based clients are looking to add more alternatives to their portfolios now that Brexit appears to become a reality. In particular, with Sterling being relatively weak, our Asian business is gaining momentum as people see the benefit of buying Sterling denominated assets.»
