Toscafund chief economist Savvas Savouri has said overseas investor appetite for UK property will not wane following the General Election result.
“Today is no different from yesterday in many ways because the party of government is the same party of government,” he said.
“Nothing changed in the last 24 hours fundamentally about the UK economy. You have the same chancellor in his role. You haven’t got John McDonnell.
“It would have been quite a different conversation had we had a less robust Conservative Party in government requiring an informal coalition with the DUP. “
He added: “Luckily we have the pound to shock absorb and quite frankly if you are middle class in the United States, across Europe or even Qatar, the UK looks like a sensible place to be.”
Asian investors will look at the UK and see the “weaker pound” and more affordable investment opportunities. “The most important nation on this planet is China, and it’s not a country that has much time for elections. In fact, it has no time at all for elections.”
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■ Bookmark www.egi.co.uk/news/election2017 to find out the property fallout after this morning’s hung parliament announcement.
