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اقتصاد سكاي نيوز عربية
Is London’s real estate boom over
Recent data shows that the luxury real estate market in London is experiencing a significant downturn, with its real value dropping by approximately 49% since the market peak in 2014. This decline has been driven by multiple factors, including high taxes, political instability, Brexit, and economic recession. Luxury property prices have fallen by about 27% in nominal terms since their peak over a decade ago, with expectations that losses could exceed 50% when accounting for inflation in the coming months if current conditions persist. This has reduced the market's attractiveness, leading to a withdrawal of investors and substantial losses for foreign buyers—particularly with the depreciation of the British pound, which has resulted in losses of around 58% for overseas investors after inflation. The shift reflects a change from seeing London real estate as a secure investment to a market undergoing a significant correction, with forecasts that growth will not resume before 2028.
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