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London’s super prime residential market is suffering from increased stamp taxes and a proposed mansion tax that will be decided by next month’s elections. With some notable exceptions, the residential market will remain flat until there is clarity on these taxes. During this period of uncertainty, now is the time one may be able to find better value.
The commercial market, however, is hotter than ever. The Gherkin just sold to Brazilian billionaire Joseph Safra for over £700 million, reflecting a trend that began
two years ago: UHNW individuals are aggressively investing in commercial property and they have the ability to outbid their institutional counterparts.
More on London…