Central London Property – trophy assets?
With the speculation surrounding the upcoming budget leading to sensational headlines about the exodus of the wealthy leaving the UK, is there any truth in this? There are numerous factors affecting the changing population, with many of whom leaving being non-dom. These range from tax to lifestyle benefits, but not everyone is saying goodbye to the UK.
Speaking to The Telegraph, I provided an insight into the current Central London property market, and how there are still benefits to retaining a bolthole here.
“Many clients continue to hold their properties as investments or trophy assets – somewhere to stay when they invariably spend some time in London throughout the year. So we haven’t seen the fear of tax changes result in a glut of properties coming to the market”
Key takeaways from the discussion with numerous experts are that while some are indeed leaving the UK and setting up home in more economically advantageous countries, such as Dubai and Singapore, the property market isn’t inundated with new listings – showing there is still a charm to Central London and the UK.
Read the full article in The Telegraph here.
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