The most historic weakening of the British Pound against the dollar is inspiring Singaporean’s are looking to buy property in the UK. Properties in Central London are being snapped up as reported by property agents. There are other sorts of taxes that will be applied when buying a property in the UK such as inheritance tax and capital gains tax, which do not offset the benefits of a better exchange rate now. If one already owns a property, then paying off the debt will be cheaper now, he said, adding that those planning to go for a holiday there will benefit from the better rate at the money changers now.
Is this good news for the British economy?