Home Residential PropertyLuxury Property Rise of US buyers in pre-Brexit luxury property market boom

Rise of US buyers in pre-Brexit luxury property market boom

by LLP Reporter
11th Feb 19 1:09 pm

Luxury estate agent, Berkshire Hathaway HomeServices(BHHS) Kay & Co has announced an influx of referrals and enquiries from US buyers, reporting over 50 referrals in the last month. Two thirds of the enquiries were for lettings whilst the remaining third were from buyers.

The referrals have been from a significant number of business owners and senior executives from New York, LA, San Francisco and Chicago as well as a few from Houston and Dallas; who have a London office or are based in London part of the year.

They are seeking one and two bedroom apartments in Marylebone, Hyde Park and Kings Cross and larger family houses in Mayfair, Belgravia, Hampstead, Notting Hill and St John’s Wood and spending upwards of £10m and those seeking a property to let are spending £25,000 per week.

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Martin Bikhit, managing director at BHHS Kay & Co said, “We are experiencing a pre-Brexit boom as American buyers see real value in the London property market and wish to take advantage of the 25% saving they will achieve due to reduction in values and dollar to sterling exchange rate.

“US buyers believe that the market is going to spike post-Brexit and there is now an opportunity to buy competitively in a less active market.”

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