The real estate market of Central London will no longer fall

The sellers and the Agency of real estate in Central London have a more realistic view of the price of sold homes, what is the result of several months of market stagnation. For the third year the market of real estate in Central London digests the increase in stamp duty, which was introduced in December 2014, and became particularly sensitive to foreign investors.

Greater interest to the market of elite real estate in Central London comes from buyers from the Middle East and Asia, which are not influenced by Brexit, as buyers from Europe. In addition, buyers from the Middle East, China and India benefit from the fall of the pound against major global currencies, which also positively influences their buying interest.

To date, the prices fall in the expensive sector of the London property approximately equal to the recent increase in stamp duty. Thus, the market of real estate of London it took two years to make the correlation of prices has absorbed the tax. Given the relatively strong interest in Prime London real estate by the above-mentioned buyers should not expect further price declines in the near future.

Today, about 67% of the negotiations on the purchase are in favor of the buyer to lower the price from the original by about 7%. A noticeable interest in luxury London housing both local and international buyers, with approximately 50% buy for yourself and 25% investment property. Thus, despite the political risks, the real estate market in Central London found the balance of supply and demand and will feel more confident in the coming years.

® Alice Morgan. 08.06.2017 G.

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