London house prices have been on a wild ride in the last few years - and foreign investors have seized the market with both hands as prices spiralled upwards.
But with the pound weakening in the run-up to the EU referendum, and the capital's house price growth looking as though it is beginning to cool, is now the time for foreign investors to stage a swift retreat?
Now figures by estate agent Chestertons show who has done the best out of investments in the capital.
The general gist? Those from the US or Eurozone who bought a home in the capital five years ago and want to sell up now stand to lose out. While the capital's average house price has risen 57 per cent in the past five years, when it's converted into dollars at today's exchange rate, that appreciation is just 34 per cent.
On the other hand, we may be about to witness a Russian exodus: those who bought a home in the capital five years ago will stand to make a 253 per cent return if they sell up now.
US or Eurozone investors planning on selling up soon should hang on, though, said Jamie Hughes, from Chestertons' FX currency exchange service.
“Sterling has lost a lot of value recently and since November the rate against the euro and dollar has fallen 11.93 per cent and 10.7 per cent respectively. This is great news for many international buyers as UK property has suddenly become much cheaper, but conversely it will have hurt those who bought when sterling was much stronger.
“There’s a lot of uncertainty around a possible Brexit and the possibility of the pound falling even further, meanwhile the dollar has started 2016 in strong fashion with the index close to recent highs. We can expect further consolidation or weakening of the pound while this uncertainty persists."