Wealthy foreigners retain the property market in London "afloat"

29.08.2010 07:16
Despite the fact that the luxury real estate market of the British capital is affected by instability, which is present on the real estate market of the country, to keep "afloat" it will help foreign buyers and wealthy bankers.

According to managing partner of Black Brick Property Solutions Camila Dell, "instability in the real estate market of the country is a direct reflection of the difficulties facing our economy. Mortgage get hard, large-scale reduction of civil servants are inevitable, coming tax increase, and demand begins to catch up with the proposal. But these factors do not have a significant impact on luxury real estate market in London.

The biggest short-term risk for the mentioned market is the continued strengthening of the pound against the U.S. dollar and other world currencies, says Property Wire. However, in the long run the London elitka will remain an attractive asset.

According to observations by Dell, now buyers can get discounts of 10-15% on items worth over 10 million pounds, since the proposal in this space is outpacing demand.
www.zagorodna.com
Content tags: Overseas property Property
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