The dramatic slump in the sale of London’s most expensive homes is continuing with one agency claiming that over the past 12 months there’s been a 26 per cent slump in sales of homes over £1m.
“After one of the most tumultuous weeks on record for the world’s financial markets, there is naturally considerable speculation regarding the real estate manifestations of the economic slowdown in China and knock-on negative impact for global equities” says Richard Barber, a director at W A Ellis.
He says it is not always the case the London is seen as the natural investment choice for rich foreign buyers. “There are exceptions to this trend, notably from economies experiencing a more severe currency devaluation; Russia, China, and Malaysia are all likely to fall into this category and investment flows from these countries may moderate through the remainder of 2015” he warns.
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment