UK Property News

Russian real estate investors leaving London

by Mark Benson on December 20, 2014

Is time up for the London property market?

Is time up for the London property market?

The London property market has been one of the star performers around the world over the last decade with current prices way above and beyond the previous high of 2007. Some optimists believed that the luxury London property market would continue to rise indefinitely with wealthy overseas investors clamouring to get their hands on some of London’s most sought-after addresses. However, political and economic unrest in Russia seems to have given many wealthy Russians a severe dose of reality.

Russian investors concerned about the future

There have been a number of reports over the last few days suggesting that Russian real estate investors are leaving London en masse. The major problem seems to be in the area of properties worth around £5 million with many Russian investors keen to sell up and repatriate funds to cover losses in their homeland. The situation is slightly different for extremely wealthy Russian investors, with properties worth £20 million and above seemingly still much sought after by the cream of the Russian investment arena. [click to continue…]

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