Is it time to repatriate some of your overseas investments?

[nmb]

Over the last few weeks we have seen a significant fall in the value of sterling which is attracting the interest of overseas investors looking towards the UK. If you have overseas investments in a foreign currency, have you considered repatriating some or all of your funds back to the UK to take advantage of the recent currency movements?

 

[lookinginvest]

When you bear in mind the significant weakness in sterling there may well be major attractions for those who have property overseas. Is it maybe time to switch from overseas property investments and repatriate funds to the UK market where your spending power has increased?

 

[Longterminvestor]

If we put aside the recent currency movements and the long-term prospects which attracted you to an overseas market still remain, then in theory there is no reason to sell and repatriate your funds. However, a quick 20% increase in the value of some currencies against the UK pound does change the game a little especially during these challenging economic times. It is never wrong to take a profit!

 

[aurelie]

But there is just one problem: French oversea property has lost much of its value and the dropping of the bubble goes on. It's just bad timing to sell. Weak pound won't be helping enough...Same for Spain (even though, it's starting to recover..)

 

[lookinginvest]

Surely there is some upside when converting back into sterling from other mainstream currencies? The UK currency is now at a 31 year low against the dollar which will at some point make the UK property market more attractive to overseas investors.

 

[Veronica]

We are watching the UK market for any sign of prices dropping. We intend to buy to let next year so are hoping that prices will drop a little.

 

[nmb]

I totally agree with your thoughts @Veronica because any further weakness in sterling (before any potential property price reductions in the UK) would make UK property even more attractive to overseas investors. While the so-called “flash crash” in sterling earlier this week was a one-off phenomenon, it did show that people are concerned about the currency.

 

[Veronica]

Yes the current weakness of Sterling against the euro could also be good for us. We are watching the currencies closely and if we feel the time is right we will transfer some Euros to our UK account . Everything points to it being a good time for us to invest in the UK. It would be quite nice to have a property back in our home country again in case we ever decide to return in the future.

 

[PostBrexitInvestor]

Do I sense a little homesickness in your post @Veronica ?

 

[Veronica]

Absolutely not. I love it here in Cyprus but you never know what the future might bring. As things stand we have no intention of returning to the UK as Cyprus has been very good for us. But I don't know if I would want to stay here if anything happened to my husband. Also you can never predict what might happen in the world in the future. We also want to make sure there is something in place to ensure our children have a comfortable old age. The way pensions are going a bit of extra income is always welcome and what better than some income from rental properties.

 

[Longterminvestor]

Personally I think in the long term Brexit will be a good move for the UK. There will be volatility and concern along the way but let's face it the Euro and the European economy have not exactly been setting the world alight?