Homepage / Currency / London property sales slump as Brexit bites but Indians seeking ‘safe haven’ may take up slack
Как Стать Стримером Казино%3F Что для Этого Нужно%3 Best Game Software How to Design Engaging and Effective Educational Events Winline Делает Разницу! Букмекерская Контора Winline Онлайн Ставки На Спорт Making Corporate Travel Arrangements Business Virtual Data Room Stock Market Tips For Beginners What to Look for in a VDR Provider Why You Need a Secure Data Room Learning in the Digital Age How to Apply For Business Loans VDR and Document Management Performance Management and HR Outsourcing Modern Business Integration How to Choose the Right Board Portal Software for Your Company How to Choose a Data Storage Room Why Startups Use a Data Room for Investors The Best Web Tools for Designers Use Cases For Using VDR Documents Subsidy Programs and Financing Innovative Technologies for Audit What Is Real Estate Management? Investment and Funds Inspiring Teaching Books What Are the Benefits of a Virtual Data Room? Startups and Business Ideas How to Improve Virtual Board Communication The Lego Company History Investing in the Biotech Industry Financial Startup Basics Jogue Por Dinheiro Actual Em Cassino Onlin Virtual Communication Methods for Remote Leaders How to Choose the Best VDR Providers How Successful Online Businesses Succeed How Business Experts Fuel Innovation and Create Competitive Edge The IT World and Business Deal Making Software and How it Can Help Your Business Virtual Data Room Software Types of Steel Materials and Their Uses Board of Directors Software Bonver Casino Cz Hrací Automaty S Bonusem Zdarm Magazyn Żużel Speedway W Polsce I Na Świeci What Is Logistics School? What Is the VDR for Acquisition? The Best Data Room Apps For Startups Best Practices for Creating an Effective Board Meeting Agenda How to Choose the Best Shareholders Online Platforms Ostdeutsche Biersorten Getting a Construction Management Degree How to Select an Online Data Room Provider Start Your Blog Without Investment What to Look for in a Board Room Provider Data Room Comparison – Which Data Room Is Right For Your Business? Zakłady Sportowe Online Autógrafo Bukmacherska 1xbe “Pin-up O Melhor Cassino Do Brasil Web Site Oficial ᐈ Jogar Caça-níquei Rotating Events in Our Time How to Choose the Best Business Software Choosing an Online Payment Processor Due Diligence Software Virtual Data Room Providers for M&A Due Diligence The Best Online Data Room Benefits of a Due Diligence Data Room Best Practices for Data Rooms Types of Corporate Governance What Is Virtual Data Storage? Benefits of Document Distribution Software The Benefits of a Data Room for Startups Effective Project Management Requires a Mix of Technical and People Skills Top 5 Free File Sharing Services Zakłady Sportowe Online Obstawiaj U Bukmachera Gg Be Speed Up Your Business Valuation With a Data Room How to Choose the Best Board Management Software for Business How to Write Effective Board Decision Papers Choosing Board Meeting Software The Benefits of Document Distribution Software Why Startups Need a VDR for Start-Up Virtual Data Room for Ipos and the IPO Process What is a Board Portal? What Industries Use Virtual Data Room? Advantages of a Data Room What Does a Board Room Provider Do? Data Room Analysis for Venture Capital Funding The Importance of Board Reporting Software Safe Uploading and Downloading Business Files How to Select the Best Board Management Software How to Organize the Work of a Company “gerçek Parayla En Iyi Slot Makineleri Ve Spor Bahisler Which is the Best Podcast For Stock Market Beginners? Virtual Data Room Facts How to Protect Confidential Documents for Boards Advantages of Online Meetings Business Issues to Consider When Choosing a Data Room Provider What Is a Data Room? Virtual Board Room Software Due Diligence Risk Factors How to Choose a Reliable Tool for Data Exchange test Users535352253 Board Software and VDR Programs Business Operations Management Software

Currency, United States Finance

London property sales slump as Brexit bites but Indians seeking ‘safe haven’ may take up slack

Prime property in central London has lost its attractiveness among global investors due to the uncertainty over the country’s future relationship with the European Union.

Sales in central London have tanked 41 percent in the first quarter of this year to just 3406 sales compared with the previous year, data from real estate investment adviser London Central Portfolio showed Monday.

This is “in large part due to significant increases in taxation,” Naomi Heaton, CEO of London Central Portfolio, said in a statement Monday, but also due to a “wait-and-see attitude” from European investors as Brexit talks take place.

European investors, who were the second largest buyers just two years ago, accounted for 7 percent of the sales over the last 12 months.

“As the group most impacted by the outcome of the U.K.’s exit from the European Union, a bounce back amongst these investors will very much depend on the result of on-going negotiations,” Heaton said.

Data from research firm LonRes showed last month that 58 percent of properties taken off the market in 2017 were withdrawn rather than sold.

Matthew Riley, head of research at Natixis Global Asset Management, told CNBC on Monday that “there’s a lot of uncertainty at the moment, certainly geopolitical uncertainty from what we read is pretty much high although market volatility is quite low. So I would expect at some point investors to come back to property, but in the interim period the biggest move we’ve seen since Brexit has been a reduction in property allocation.”

However, not everything is doom and gloom. There’s been a surge in purchases from Indian investors, who are now the second biggest buyers of London prime properties, according to London Central Portfolio.

Buyers from India represent 22 percent of property sales in central London, an increase from 5 percent just two years ago.

On average, Indian investors are purchasing properties worth £1.77 million ($2.30 million), which comes slightly above the market average of £1.6 million ($2.08 million).

The surge is driven by changes in Indian laws and a weaker sterling. The Liberalized Remittance Scheme in India has allowed investors to send more capital to the U.K. since 2015. At the same time, higher loan interest and rising prices in India have made it harder for people to buy property in their country. Lastly, investors with capital in U.S. dollars can make cheaper purchases in U.K. property due to the recent depreciation of sterling.

“Despite two years of slower price growth due to tax headwinds and the U.K.’s Brexit vote, Prime Central London has remained attractive to international buyers as a safe haven asset class with the rule of law and proper title to property,” Heaton said.

Follow CNBC International on Twitter and Facebook.

Source: cnbc
London property sales slump as Brexit bites but Indians seeking ‘safe haven’ may take up slack

Comments are closed.