Interest in London property from buyers in the Gulf is the highest seen for the last two years, according to independent buying agency Black Brick.
In its latest market update the agency says that every client or prospective client on a recent visit was interested in buying, even if they already own real estate assets in the UK – and that Brexit is not hampering their interest.
The reasons for this surge in interest, however, are interesting: The agency says that a weak local economy and property market and concerns over instability in Dubai and Qatar are the driving forces behind the interest in London.
Camilla Dell, Managing Partner, says: “Interest in London property was the highest I have seen for the last two years. Every client or prospective client I met with was interested in buying, even if they already owned real estate assets in the UK.” She adds that the feeling is that London is cheaper than it has been in years and good value and that, despite Brexit, is still a safe haven, adding: “The view here is, London will always be London.”
Some investors might grumble about the opportunities in the London property market. But the idea that it is seen as a ‘must buy’ by those in less fortunate locations is something that those in the London market shouldn’t forget.