Tuesday, January 19, 2021

London luxury real estate on the rise, despite political uncertainty

Featured

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac,...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

London luxury real estate on the rise in the environment of the planned withdrawal of Britain from the European Union generally weaker pound has many consequences, even if it has recently recovered somewhat. On Wednesday, the price was around 0.86 pounds per euro, before the referendum in June 2016, it was 0.77 pounds. For the British, the weakness of their own currency, makes imports more expensive, but buyers from abroad are favored.

Home buyers in London spent around £2.06 billion on prime luxury properties

- Advertisement -

According to analyst Knight Frank, political uncertainty is affecting real estate transactions overall, while demand for luxury real estate in London is growing. Especially high-quality purchases increase, as wealthy individuals who were interested in the city, the pound-weakness used. Striking is a strong demand from Asia.

Knight Frank provides personalized, clear and considered advice on all areas of property in all key markets.

By September 2019, three-quarters of super-luxury real estate buyers had been less than 50 years old

From June 2018 to May 2019, home buyers in the British capital spent around £2.06 billion on prime luxury properties. The real estate consultant Knight Frank understands houses and apartments worth more than 10 million pounds each. The year before, it had been 2.05 billion pounds. Most importantly, there were 16 transactions in a volume of £30 million or more, compared to eleven the year before. Especially popular is Mayfair.

Meanwhile, the buyers of these exquisite luxury hotels are evidently getting younger. By September 2019, three-quarters of super-luxury real estate buyers had been less than 50 years old. In 2015 this was not even half, in 2017 for even less.

The reason for this is Knight Frank’s high earnings, especially in the field of technology, and the fact that many older wealthy people pass on business and equipment to the younger generation. Headquartered in London, Knight Frank employs more than 19,000 people in 60 markets.

- Advertisement -

Read also: Donald Trump’s wealth jumps to $3 billion

- Advertisement -
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
- Advertisement -

Latest News

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

As You Likee: Express more, Create more with Likee’s In-App Features

The online short videos platform is rapidly becoming the content production application of choice for hundreds of thousands of Pakistanis to showcase their creativity,...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend the democracy of the United...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac, the Indonesian health minister said...

IFN declares SBP as top central bank for promoting Islamic finance

State Bank of Pakistan (SBP) has been voted as the Best Central Bank in promoting Islamic finance for the fourth time by a poll...

Related News