{"id":18172,"date":"2016-06-30T20:54:10","date_gmt":"2016-06-30T13:54:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=18172"},"modified":"2016-06-30T19:20:42","modified_gmt":"2016-06-30T12:20:42","slug":"londons-lincolns-inn-apartments-are-an-uphill-challenge","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/londons-lincolns-inn-apartments-are-an-uphill-challenge\/","title":{"rendered":"London's Lincoln's Inn apartments are an uphill challenge"},"content":{"rendered":"


\nWith the UK’s Brexit vote still playing havoc with the markets, the prospect of selling high-end London flats to wealthy Arabian Gulf investors is a much tougher prospect.This is a challenge Charlie Walsh, a sales director at the Indian developer Lodha, faces. Lodha is building its first luxury housing scheme in London’s Lincoln’s Inn Fields and Mr Walsh arrives at Abu Dhabi’s Emirates Palace with his marketing material looking uneasy.After all, shifting flats with prices starting at \u00c2\u00a3900,000 (Dh4.4 million) for a studio at a time when the country is in flux and scouting for new leadership is a tall order. Clutching an iPad loaded with whizzy images of the 10-storey development of 200 flats next to the Royal Courts of Justice and the London School of Economics, Mr Walsh says the planned marketing launch later this year may be put on hold because of the uncertainty.And with UK house-builder stocks crashing by about a third after Thursday’s vote and agents predicting a fall in house prices in the UK’s capital city, investors who previously shovelled cash into London bricks and mortar may be having second thoughts.Not so, says Mr Walsh, a veteran of Savills’ Abu Dhabi office, who, like any estate agent worth his salt, points to the benefits of this particular project.Lincoln Square, expected to be completed in the third quarter of 2018, is certainly positioned in a part of London many consider desirable. Located within walking distance from the Royal Courts of Justice, the Royal College of Surgeons and the London School of Economics, the developer is hoping to attract wealthy students and professionals as well as the usual wealthy overseas investors.Flats range from studios to four-beds and communal facilities include a 25-metre pool, a private dining room to seat 36, a spa and even a gym with a video display set into the walls so you can work out against a backdrop of mountain or desert scenery. And the location in the heart of London’s midtown means few other projects are competing with Lincoln Square for buyers.But with sales rates set at between \u00c2\u00a32,100 and \u00c2\u00a32,200 a square foot, Mr Walsh may find he has a tougher job than he originally expected.Q&ALucy Barnard assesses the Brexit effect on London’s property:How will Brexit affect London house prices?Nobody really knows because no major country has ever left the European Union before. Before the vote, the Treasury predicted house prices could fall between 10 and 18 per cent over the next two years. JLL predicts London prices could fall between 3 and 5 per cent next year and in 2018.How will the Brexit vote affect Middle East buyers?Despite the predicted falls in the value of London real estate, the fall in the value of the pound immediately following the vote has made London property more affordable for anyone buying in US dollars or currencies linked to the dollar. If the pound remains close to its current exchange rate, London house prices still remain between 10 and 15 per cent more affordable than they were before the vote.What is happening in the UK housing market right now?In the immediate aftermath of the plebiscite, UK papers reported a wave of panic gripping buyers, which led to a number pulling out of transactions while others stalled for more time to assess the impact of Brexit on their own job security. What about other overseas investors?Agents say London property is likely to retain its status as a safe haven investment. Online estate agent Emoov reported a 50 per cent increase in the number of buyer registrations from China and Singapore compared with a week earlier.lbarnard@thenational.ae
\n
\nSource : thenational.ae
\nRead more…London’s Lincoln’s Inn apartments are an uphill challenge<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

With the UK’s Brexit vote still playing havoc with the markets, the prospect of selling...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-18172","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4J6","jetpack-related-posts":[{"id":56704,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-property-sales-still-quite-good-after-brexit-indias-lodha-group-says\/","url_meta":{"origin":18172,"position":0},"title":"London property sales still 'quite good' after Brexit, India's Lodha Group says","date":"June 2, 2017","format":false,"excerpt":"\r Brexit occurred just as India's Lodha Group was expanding its presence in London, but the company says it hasn't taken too much of a hit.\r \r Source : cnbc.com\r Read more...London property sales still 'quite good' after Brexit, India's Lodha Group says","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43516,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-foresight-pays-off-in-london-as-mayfair-squares-return-to-glory\/","url_meta":{"origin":18172,"position":1},"title":"Abu Dhabi's foresight pays off in London as Mayfair squares return to glory","date":"February 9, 2017","format":false,"excerpt":"\r Abu Dhabi's prescience looks set to be well rewarded with two of central London's one-time luxury property hotspots on the rebound and set to become the capital's top residential development areas this year, a new report says.Hanover Square and Grosvenor Square in Mayfair, Westminster, are being restored to their\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/img.youtube.com\/vi\/4gXxJ3gvw00\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":89067,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/turning-queen-marys-house-into-luxury-flats-would-leave-nhs-staff-homeless-letters\/","url_meta":{"origin":18172,"position":2},"title":"Turning Queen Mary\u2019s House into luxury flats would leave NHS staff homeless | Letters","date":"May 23, 2018","format":false,"excerpt":"\r Neil Macehiter says it will make recruiting staff harder, and Stewart Pimbley on the betrayal of the London building\u2019s pastThe response of Stephen Clark, spokesman for planning on London\u2019s Camden council, to the marketing of Queen Mary\u2019s House as potential luxury flats (NHS privately planning to turn London hospital\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-flats-in-brutalist-style-on-oxford-street\/","url_meta":{"origin":18172,"position":3},"title":"Luxury flats in brutalist style on Oxford Street","date":"December 1, 2016","format":false,"excerpt":"\r The skyscraper that became a byword for London's housing crisis in the 1970s is now being marketed to the super rich in the UAE as exclusive residences. Centre Point, a 33-storey tower at the east end of London's Oxford Street, became a symbol of homelessness after property tycoon Harry\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95939,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-modern-flats-for-super-rich-leave-key-workers-in-the-cold\/","url_meta":{"origin":18172,"position":4},"title":"Park Modern: flats for super-rich leave key workers in the cold","date":"August 13, 2018","format":false,"excerpt":"\r Despite London\u2019s housing crisis, half billion pound development beside Kensington Gardens won\u2019t include a single affordable flat It is billed as \u201cLondon\u2019s most prestigious residential development\u201d and prospective super-rich buyers are offered the chance to be \u201cneighbours to the new Duke and Duchess of Sussex\u201d in Kensington Palace.The developers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118148,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/londons-mi6-penthouse-in-james-bond-movie-converted-flats-showcased-in-eddie-redmaynes-oscar-winning-film-are-looking-for-wealthy-buyers\/","url_meta":{"origin":18172,"position":5},"title":"London\u2019s MI6 penthouse in James Bond movie, converted flats showcased in Eddie Redmayne\u2019s Oscar-winning film, are looking for wealthy buyers","date":"August 11, 2020","format":false,"excerpt":"\r A London penthouse that was formerly the headquarters of British spies and featured in the yet-to-be-released James Bond flick No Time to Die is up for sale. So is another penthouse that provided the backdrop for The Theory of Everything.Blue Plaque Whitehall Court was part of the MI6 intelligence\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/18172"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=18172"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/18172\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=18172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=18172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=18172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}