As the UK voted to exit from the European Union, its impact will be seen on the core sectors of the British economy. Though some predictions have come true with the British Pound falling, the recent fluctuations in the bond and equities markets are likely to provide relief to investments in the property market, as real estate assets offer better returns and stable income from the long-term perspective. International investors are exploring opportunities in London, as evidenced by the sale of prime London real estate jumping 38 percent.
The Middle East royals, Russian oligarchs and Asian billionaires are purchasing London townhouses and penthouses. The UK property market has weathered storms, including the 2008 global economic crisis. As the fundamentals of the UK property market are strong, London continues to be the preferred destination for a wide range of investors. Vendors across the city have also reduced their asking price over the past few months owing to economic and market uncertainty. The sale tag of super-prime property in Chelsea is 5.1 percent less than usual.
Given the variety of stunning new homes for sale, you'll find it easy to identify the perfect home and if you're wondering where to start your search, take a look at the property portfolio.
London has become a global hub for the super rich, with Middle East royals, Russian oligarchs and Asian billionaires buying up townhouses and penthouses. Many saw a buying opportunity as the British pound tumbled roughly 15 percent versus the dollar in the days after Brexit.