Overseas investors are taking advantage of Brexit uncertainty, a stagnant property market and the weak pound to push the proportion of elite London homes sold to international buyers to its highest level for six years.
Prices, particularly at the top of the market, have been falling for some time, although commentators sense that the end is in sight. Such conditions prompted Hussain Sajwani, chairman of Dubai’s Damac Properties, who is looking to invest up to £1 billion in central London, to comment: “London is London. You buy when there is blood on the streets.” One estate agent said he had not seen anything like it in 30 years. “I couldn’t get one billionaire in to see a £90 million property because three others were viewing