Thomas Moran and Ruth Morris write for Prime Resi on the Prime London market and the wider impact of rental reform
London's prime residential market presents differing perspectives for sellers and buyers. Sellers face the reality of average sale prices in prime central London being below their peak from a decade ago, while buyers, particularly international ones, are drawn to the perceived value in the market. The super-prime market, with properties over £10 million, shows resilience and increased activity compared to last year.
Global economic and political factors, such as the US election, are influencing the market, with American investors showing increased interest in London. Despite changes to the UK's tax treatment of non-domiciled individuals, London remains attractive to non-resident and non-domiciled buyers as a secure location amidst geopolitical risks.
In an article for Prime Resi, Thomas Moran (Partner) and Ruth Morris (Knowledge Development Lawyer) in our Private Property team offer a legal perspective on the Prime London market and report on two key themes involving regime changes and internationally mobile.
The upcoming Renter’s Rights Bill will impact the private rented sector. Although properties in London with annual rents above £100,000 fall outside of the statutory regime, the Bill will significantly change the operation of the private rented sector below that rent level and is likely to affect the internationally mobile.
Read the full piece in Prime Resi here (subscription required).
