It is estimated that approximately 6% of buyers in the Prime Central London market were from the US in Q3 this year, demonstrating US buyer’s appetite for PCL property. As uncertainty continues on the global economic stage, we could expect investors to look for safe havens to invest in to tangible assets, resulting in increased investment in Prime Central London property. Parts of London such as Chelsea
and Holland Park
have long been favoured by Americans and the numbers are likely to grow.
Interestingly, the Canadian immigration website crashed from a surge of US citizens looking to acquire Canadian citizenship. This should bode well for the United Kingdom for two key reasons: language and financial market time zone.
With weakening US dollar and Trump as US President, London is likely to become an increasingly more popular destination. Theresa May has been one of the very few politicians not to insult Donald Trump. Unlike Barack Obama, Trump has said that the United Kingdom will not go to the back of the queue when agreeing new trade agreements. Let’s see if there is a shift of power from the US to the UK.