Rutland Gate, SW7

5 Bedrooms Apartment for Sale in London

£ 9,500,000



View Property

Hans Place , SW1X

2 Bedrooms Apartment for Sale in London

£ 2,750,000



View Property

Ebury Street, SW1

4 Bedrooms House for Sale in London

£ 7,950,000



View Property

Bramham Gardens, SW5

2 Bedrooms Apartment for Sale in London

£ 2,195,000



View Property

Rutland Gate, SW7

5 Bedrooms Apartment for Rent in London

£ 4500 per week



View Property

Queen's Gate Gardens SW7

2 Bedrooms Apartment for Rent in London

£ 1000 per week



View Property

Queen's Gate Gardens, SW7

3 Bedrooms Apartment for Rent in London

£ 925 per week



View Property

Kensington Church Street, W8

3 Bedrooms Apartment for Rent in London

£ 900 per week



View Property

Hans Place, SW1X

2 Bedrooms Apartment for Rent in London

£ 1195 per week



View Property

De Vere Gardens , W8

2 Bedrooms Apartment for Rent in London

£ 1995 per week



View Property
 
Market Comment

The Prime Central London sales market has been subdued due to global political and economic uncertainty in the wake of Brexit and the inauguration of Donald Trump; the increase in SDLT on additional properties has also put a continued dampener on the market with transaction levels down 25% in 2016 compared to 2015. The sub- £2 million price bracket was the most active in terms of volume in 2016. There was a marked pick-up in activity in the final quarter which has continued into 2017 largely driven by overseas buyers taking advantage of the weakness of Sterling. London remains the market of choice for international buyers with 73% of transactions in 2016 involving an overseas buyer compared to 40% in New York and 33% in Paris. This is a trend that is likely to continue in 2017 with buyers from Europe, the Middle East and China drawn by the weakness of the pound.

The market remains extremely price sensitive and the continued pick-up in activity is reliant on properties being priced realistically, however we are still in a period of uncertainty with the imminent triggering of Article 50 and we are likely to see a persisting lack of urgency from buyers.

This uncertainty has undoubtedly benefited the lettings market with an increase in volumes let of 8% in the fourth quarter, however increased levels of stock has put some downward pressure on prices achieved. Transaction cost and expectations of limited capital growth have driven many prospective buyers to the rental market; this has been reflected in a 28% increase in lets over the £3,000 per week mark in prime central London compared to the same period last year.

 

The residential market in Dubai continued to soften in 2016 according to Knight Frank; the prime residential market declined 4% in 2016 having fallen 5% in 2015 however the General and Prime REIDIN sale price indices remained flat on a monthly basis since August leading Knight Frank to conclude that the residential market is reaching its cyclical trough.

The outlook for the UAE in 2017 is positive as oil prices are expected to recover which will in turn boost government revenues and increase spending on infrastructure and development projects. The green light has been given to the construction of the World Expo site in Dubai in September, which along with other investment projects, will generate jobs across the economy and reflect positively in the Dubai real estate market.

 

The French Riviera property market gathered traction in 2016, according to Beauchamp Estates, with transaction volumes rising from St Tropez to Monaco as sellers are more serious about selling and more realistic about prices. They add that ´it is clear that the French Riviera continues to be seen as a safe investment for foreign buyers in the current climate.´





© Croft International 2016. Powered by VIT
© Croft International 2017. Powered by VIT
Links Market Comment Currencies Sitemap