In our experience at Rescorp, over 70% of our buyers are internationally based, whether for personal use, investment purposes or a combination of the two. To date this year and despite disturbances in oil prices, taxes, economies & the potential Brexit, all of our sales transactions have been investment properties and each one has been to a savvy international purchaser.
There appears to be a consistent appetite for property in the primary areas which we cover: St Johns Wood, Marylebone, Mayfair & Knightsbridge.
So Why Prime Central London? The answers we receive range from “We wish to send our children to study here in the future” and “It’s the only foothold in Europe worth having” to “Most of our friends have bought here” and “We just love London – it has everything!”
Whilst one can not deny that the market has experienced quiet spells and that a lack of transactions has been the primary complaint by most of my professional peers, the statements above stand firm and interestingly, now that the official summer time has begun there has been a notable increase in the level of enquiries received by purchasers within various price brackets of the market.