17 May

London prime market sees fall in demand

London prime market sees fall in demand

Some prime properties in London have seen a drop in demand from international investors in recent months, according to a new report.

Data from Black Brick revealed some international investment buyers have been hit by a number of worldwide economic factors and this is curtaining their interest in London’s prime real estate market.

Many areas of the capital are still seeing interest, with Islington and the City and Fringe performing strongly, but property in Knightsbridge and South Kensington have seen a decline.

Camilla Dell, Black Brick managing partner, explained: “Those areas dominated by international buyers have suffered from falls in demand as a result of global uncertainty around falling oil prices, sanctions on Russia, and the slowdown in the Chinese economy, among other factors.

She added: “In addition, recent changes to taxation have reduced the appeal of more expensive properties; investors seeking attractive rental yields and the prospect of capital appreciation have been pushed towards properties below £2 million, which tends to lead them away from traditional prime areas in West London.”ADNFCR-1222-ID-801818619-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.