{"id":21975,"date":"2016-08-04T21:34:38","date_gmt":"2016-08-04T14:34:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=21975"},"modified":"2016-08-04T20:04:28","modified_gmt":"2016-08-04T13:04:28","slug":"weak-pound-creates-bargain-london-property-deals-for-gulf-buyers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/weak-pound-creates-bargain-london-property-deals-for-gulf-buyers\/","title":{"rendered":"Weak pound creates bargain London property deals for Gulf buyers"},"content":{"rendered":"


\nArabian Gulf property investors have begun bargain hunting among London’s most exclusive addresses as prices tumble.House prices in some of the parts of London most popular with GCC investors have suffered their biggest annual falls in nearly seven years.Average prices in the London district of Knightsbridge fell 7.3 per cent in the year to the end of last month, according to Knight Frank. That is the biggest annual decline in almost seven years – prompted by Brexit uncertainty and tax hikes.”We are seeing a lot of interest from GCC buyers looking to buy in prime central London this summer,” said Tom Bill, the head of London residential research at Knight Frank. “At the moment we are seeing that there is a currency play, which makes prime central London property a particularly attractive opportunity for them right now. Many are also asking for double-digit discounts on top of the currency discount,” he added.Prices in Chelsea were down 7.2 per cent, South Kensington prices fell 5.7 per cent and Mayfair prices were down 0.8 per cent.Knight Frank said that average house prices in prime central London fell by an average of 1.5 per cent in the year to the end of last month.Brokers operating in the most prime parts of the city reported a rush of interest from overseas investors in the weeks following Britain’s shock referendum result on June 23, in which the value of the pound plummeted by 10 to 15 per cent against the US dollar.Savills, Chestertons, Harrods Estates, Douglas & Gordon and Cluttons have all reported an increase in interest Middle East investors in the weeks following Brexit.Knight Frank reported that prime central London rents fell 3.6 per cent in the year to the end of last month as some sellers opted to rent their homes out instead of selling them because of the increased uncertainty surrounding the EU referendum result.”Landlords are taking an increasingly pragmatic approach to asking rents against the background of wider Brexit uncertainty and rising stock levels,” said Knight Frank’s Mr Bill.lbarnard@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Weak pound creates bargain London property deals for Gulf buyers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Arabian Gulf property investors have begun bargain hunting among London’s most exclusive addresses as prices...<\/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-21975","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\/p75ss1-5Ir","jetpack-related-posts":[{"id":18884,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-address-still-desirable-for-gulf-investors-despite-brexit\/","url_meta":{"origin":21975,"position":0},"title":"London address still desirable for Gulf investors despite Brexit","date":"July 6, 2016","format":false,"excerpt":"\r LONDON \/\/ Markets hate uncertainty. But for the brave, uncertain markets are a golden opportunity.Two weeks after the UK's historic vote to cut ties with the EU, there are quite a few overseas investors who are considering that now might be an ideal time to buy that sought-after second\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6218,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taxing-reality-for-londons-prime-housing-investors\/","url_meta":{"origin":21975,"position":1},"title":"Taxing reality for London's prime housing investors","date":"February 28, 2016","format":false,"excerpt":"\r \r Although there is no such thing as a surefire winner when it comes to investments, owning a house in prime central London has been about as close to it as it gets over the past five years.According to Knight Frank, property prices rose by an average of 8.5\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-london-home-buyers-turn-to-marylebone\/","url_meta":{"origin":21975,"position":2},"title":"Luxury London home buyers turn to Marylebone","date":"April 13, 2017","format":false,"excerpt":"\r While the more traditional high-end London property areas such as Knightsbridge and Chelsea have seen prices stagnate or fall over the past 12 months, a relatively new kid on the block has taken top slot as best performer in prime central London (PCL) homes - and buyers from the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/Bsbb3yxXzW0\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":31330,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gulf-investors-know-london-is-fashionable-in-every-season\/","url_meta":{"origin":21975,"position":3},"title":"Gulf investors know London is fashionable in every season","date":"October 23, 2016","format":false,"excerpt":"\r LONDON \/\/ It is fitting that the Dubai developer Damac Properties chose Knightsbridge in which to build its London show apartment. The display unit, just opposite Harrods department store, is a replica of a Versace-furnished flat at the planned Aykon London One development, Damac's first outside the Middle East.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31346,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gulf-investors-know-london-property-is-fashionable-in-every-season\/","url_meta":{"origin":21975,"position":4},"title":"Gulf investors know London property is fashionable in every season","date":"October 23, 2016","format":false,"excerpt":"\r LONDON \/\/ It is fitting that the Dubai developer Damac Properties chose Knightsbridge in which to build its London show apartment. The display unit, just opposite Harrods department store, is a replica of a Versace-furnished flat at the planned Aykon London One development, Damac's first outside the Middle East.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25085,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-developers-at-cityscape-hope-lower-pound-will-restore-interest-after-brexit-vote\/","url_meta":{"origin":21975,"position":5},"title":"UK developers at Cityscape hope lower pound will restore interest after Brexit vote","date":"September 5, 2016","format":false,"excerpt":"\r British property developers will be hoping the weak pound will attract investment into the sector as the Cityscape Global exhibition gets under way.More than a dozen property brokers and developers from the UK have taken space at the Dubai property show this year, including new entrants Stanhope, which is\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\/21975"}],"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=21975"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/21975\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=21975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=21975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=21975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}