Categories: Property News

Brexodus hits Singapore overseas property sector

Boris Johnson has clearly failed to lead his people out of the veritable desert and into the Promised Land with the Brexodus impact now being felt in faraway Singapore.

According to BBC News, the Lion City banking institution UOB has effectively put a pause on lending for buyers of London real estate. In effect the move and gather negative sentiment is creating a red flag for potential transactions.

As I have written frequently over the past few weeks that financial institutions absolutely hate volatile marketplaces and the current Brexit conundrum has gone worldwide. Without mortgages being available for overseas buyers, cash is now king and with that comes expectations of discounts, which will hit market values.

It’s still early days but across much of Asia be it Singapore, Hong Kong, Bangkok or Jakarta the London property trade has seen upward demand over the past five year. Investors have been attracted to what are now clearly ‘stabilized conditions’ and the ability to put debt on properties is another plus.

For now property brokers are all trying to catch a glimpse over the hedge into what future opportunities will be created either in buying or selling and the moving parts of the current situation are for the most part unknown. That said, the UK pound and real estate are likely headed in a spiral for at least near future.

Many lessons can be learned from the Bredxodus as they were during the Subprime debacle nearly a decade ago. At the core of the matter is that the old rules cannot simple be accepted filed away and forgotten. Few businesses work in straight lines and the current environment of disruptive events is blocking our way to the hometown that used to be known as normal.

Moses, Boris and an army of anxious investors for now are all trying to sort out exactly how or where the Promised Land might be.

FazWaz News

FazWaz News publishes articles, trends and other updates about property markets across Thailand. FazWaz Property Thailand wants to help make sure buyers are well-informed about their investments.

Recent Posts

FazWaz launches Project advisory and Transaction services to support developers

Building upon success, Proptech firm FazWaz has launched its Project Advisory and Transaction Services, FazWaz…

4 days ago

Eased TM30 measures for landlords in Thailand – less reporting

Good news for property owners in Thailand. Effective July 1st, 2020 Property owners will no…

3 months ago

International Property Investors Offered Access to Thai Developer Discounts

When in a buyer’s market, that demand should be catered for, with discount offerings a…

3 months ago

New Normal for Property Developers as Marketing Moves Online

Restrictions on movement and decentralized measures across the region are presenting an unpredictable timeframe for…

3 months ago

Fazwaz and Hipflat join forces for Thailand’s Largest Online Sales Event

Fazwaz, one of Thailand's leading online property marketplaces, has joined forces with industry colleague Hipflat,…

4 months ago

4 Reasons why you should register for Thaiger Flash Sale now

Real estate experts are sounding the alarm: property prices are starting to drop! And expo.fazwaz.com…

4 months ago