Spring has sprung! Traditionally, this time of year brings in an influx of property sales but due to buyer sentiment, property heads are seemingly conscious 2023 may be different, according to the Financial Times.
A solution to this potential stalemate could be the resurgence of international buyers who played a key part in the London market pre-Covid. Of course, we’re all too familiar with the pound hitting an all-time low at the end of last year, and with it, a flurry of dollar buyers entering the scene. Despite this now stabilising, reports show that it is still a beneficial time for overseas buyers to invest in UK property.
Property heads ensure that the best-in-class properties are still attracting a swath of buyers, and in some cases, prices are cut. Ashley Wilsdon, Head of London Buying recently helped a client negotiate a £750,000 discount on a £5mn property in Chelsea being sold by a small developer who was highly leveraged and needed to sell quickly.
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