(Bloomberg)
From King Constantine II of Greece and Saudi Arabia’s Sheikh Yamani to Russian billionaire Roman Abramovich, London’s mansions and penthouses have been a preferred haven for superrich exiles and expats since at least the 1970s.
The possible demise of “Londongrad” may be welcomed by some but the city’s real-estate firms are less thrilled about a broader clampdown on secretive foreign capital
One activist says the wealthy elite's ability to purchase British property through shell companies is an "Achilles heel" in the battle against corruption.
The property market has been red hot in recent months as buyers rushed to complete their purchases ahead of the stamp duty holiday deadline at the end of last month.
It generated a market where some homes were being snapped up within hours of going on the market by buyers hungry to get the tax saving or simply secure a property.
But new research suggests that this panic-buying has led to some regrets among new homeowners.
Indeed, it claims that half of homebuyers who bought during the coronavirus pandemic regret how much they paid.
New research suggests that panic-buying has led to some regrets among new homeowners