During the first half of 2020, the peak of the Pandemic, London’s top zip codes put a set of strict social restrictions in place to limit the spread of the virus; therefore, this number was only at 2.2%. But, London has always been an attractive region for wealthy buyers to invest in long-term. Foreign dealmakers alone accounted for 57% of London real estate investments last year. However, with property valuations being uncertain and interest rates continuously rising, this number has gone down since 2015, when they accounted for 65%.
Now, during the second half of 2022, Middle Eastern buyers alone of prime real estate in the central London area accounted for 11% of property transactions in some of London’s most prestigious zip codes. With minimized covid restrictions and the recently weak GBR Pound, these buyers put themselves in second, behind only investors from all over the UK and Europe.
https://gulfnews.com/business/property/luxury-london-real-estate-draws-most-mideast-buyers-in-4-years-1.93444188
Given that the percentage of foreign-owned London real estate has decreased by 8 points since 2015, why do you think the share of Middle Eastern buyers has increased?
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