Prime central London home prices likely to rise 15% over 5 years
The London rental market has more than doubled since 2001 to reach nearly one million households in 2016.
London
LONDON is one of a handful of global cities that attracts the most affluent international buyers. Strong economic fundamentals coupled with a transparent taxation and legal environment, mean that London is considered a safe haven for international investment.
The residential new-build market was particularly attractive to overseas investors in 2017 because of the favourable exchange rate. New-build sales in the first three quarters of 2017 were up by 14 per cent compared with the same period of 2016.
The recent weaker exchange rate has also acted as a boost to international buyers with an effective price cut.
The addition of the capital gains tax to overseas buyers in April 2015 cleared up a loophole but did not dampen positive sentiments around residential property investment because the tax is only payable on the sale of the property and only if profit has been made. It does not therefore impact on the income return of the property. …
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