Absolutely Chelsea: Vendor Advice
Wed 01 Oct 2014
William Hughes-Ward, Director of Marsh & Parsons, South Kensington and Chelsea.
Historically London property has always been a safe place for overseas buyers to invest their money. Attractive tax laws, supply/demand imbalance, guaranteed high yields and social and political stability are just a few of the factors that have enticed foreign buyers to our wonderful capital.
More recently, we've noticed a slight slowdown in this influx - the Sterling is strong, capital growth is lower than earlier this year due to current tax implications, and the possible introduction of mansion tax is putting some overseas buyers off. However, basic economics dictates that London prices will continue to climb, and whilst there will be small spikes in terms of foreign investors, on a year-on-year basis the volume will continue to rise.