Trump card! Luxury agent reports pre-Brexit boom in US clients

Luxury estate agent Berkshire Hathaway HomeServices Kay & Co has reported an influx of referrals and enquiries from US buyers looking to take advantage of the low pound and Brexit uncertainty.

It comes after Kay & Co became a franchisee of Warren Buffett’s Berkshire Hathaway HomeServices US real estate brand last year.

The agent has now revealed an increased interest from American buyers and renters.

It said it received more than 50 referrals in the last month.

Two thirds of the enquiries were for lettings whilst the remaining third were from buyers.

Referrals are coming from businesses and senior executives in New York, Los Angeles, San Francisco and Chicago as well as a few from Houston and Dallas, who have a London office or are based in London for part of the year.

Buyers are spending upwards of £10m and those seeking a property to let are spending from £1,000 to £25,000 per week., the agent said.

Martin Bikhit, managing director at Berkshire Hathaway HomeServices Kay & Co, said: “We are experiencing a pre-Brexit boom as American buyers see real value in the London property market and wish to take advantage of the 25% saving they will achieve due to reduction in values and dollar to sterling exchange rate.

“US buyers believe that the market is going to spike post-Brexit and there is now an opportunity to buy competitively in a less active market.”

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2 Comments

  1. Bless You

    See they say enquiries and not sales. 

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  2. P-Daddy

    And no surprise about rental enquiries…and I guess not spending yet! US companies will be holding back and there will always be a few city types jumping around. Trying a bit too hard saying the enquiries are spending above £10m or renting at an annual rate of £1.3m..pull the other one! They only have 1 property on the market at that rent…cynical moi!! And only 1 property for sale above the £10m

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