Bricks & Mortar - 8th February 2019
8th February 2019
With the weakened value of the pound and the potential influence of political uncertainty, the super-prime market has seen a spike in foreign investors buying penthouses in London. Mark Parkinson discussed some of the elements that may be contributing to the super-rich spree, in Bricks & Mortar.
"A lot of buyers at this end of the market have US dollars to spend [...] For some it's about currency, for some Americans there is the prospect of Trump gaining a second term too"
While we are concerned about the effects of Brexit, it may be that our politics aren't a factor. "For many at this level it is not going to be their main home; domestic politics isn't seen as much of a worry. Taxation might be more of a worry, with the prospect of a Corbyn/McDonnell government, but many think that would be short-lived".