Zee Media Bureau
The British pound plunged Friday after Britain's decision to leave the European Union, and forex market in the UK is predicted to further weaken in the days ahead.
However, the weakening of British pound is seen as positive by the travel agents and realty consultants in India who facilitate overseas transactions.
Considering the depreciation of British Pound against the Indian rupee, tour operators in India are expecting to see a surge in leisure tourism to Britain in the coming days.
Similarly, wealthy Indians aspiring to own a property in London or in the vicinity, are also seen benefiting from the Brexit onslaught on the British Pound. Buying real estate in the UK is also expected to become relatively affordable.
Traditionally, London has remained an investment hotspot for HNIs in India. As per reports, realty consultants like CBRE, Knight Frank agree that if the weakness in the British Pound vis-a vis Indian rupee continues, Indians may have better opportunity to invest in the UK property market.