Demand for commercial property in West End property continues despite tax changes and Brexit, with most of this demand coming from overseas investors.
The West End property market and the City of London is still a clear attraction for investors, especially those from Asia, China and the Middle East.
In November’s Autumn Budget, Chancellor Philip Hammond revealed there are plans to make overseas investors pay capital gains tax on any commercial property in the UK. There are concerns this move will discourage foreign investment in London and elsewhere in the UK.
In addition to these plans, Brexit continues to loom large over the London property market, with some large corporations pondering whether or not to move their business activities abroad.
At present, the weaker pound is helping to attract overseas buyers and investors, while London’s ‘safe haven’ status remains intact.
As we move towards the start of 2018, by all accounts, overseas investment activity in London’s commercial property market remains strong.
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