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London Property – A Global Reserve Currency


wealthymatters

According to Britain’s Office for National Statistics,London house prices rose 9.7% between July 2012 and July 2013.In fact for a number of years London real estate has returned an annualized return of round 10%.

World over, the UK political system is seen as stable and government policy as predictable.

Also,the property tax regime is very gentle.For example, the ¬†property taxes on Mayor Michael R Bloomberg’s $20 million London home comes to $3430.

Furthermore,if a person can demonstrate that he/she has a residence in another country.he/she is taxed on only his/her  British earnings.

Hence,its small wonder that in 2011,at the height of the euro-zone crisis,Greek and Italian citizens bought 400 million pounds worth of London real estate as a safe store of their Euros.

In fact HNIs from around the world including China,India and Singapore purchased 83 billion pounds of London real estate without financing,in all cash deals.

London bankers investing bonuses in London properties and George Cameron’s “Help to Buy” program is likely to keep London Real Estate investments perfoming well.

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About Keerthika Singaravel
Engineer,Investor,Businessperson

9 Responses to London Property – A Global Reserve Currency

  1. Alex Jones says:

    I mistrust this UK property boom, which I believe with regards to London is due to foreign investment.

    • Is this the first time in history that foreign money has helped build London?I think its part of a more long therm migration of foreigners to London and in time London will grow from this influx of foreign money.Even now,the benign tax regime is attracting many foreign businesses to locate to the UK.That’s not to say there may not be a few booms and busts along the way.

      • Alex Jones says:

        London is an international city, totally unique from any other city in the South of England. London was built by foreigners, the Romans.

      • And if I recollect correctly,riches from the colonies helped extend it.And streams of migrations have helped shape it.This new influx too is just history at work.

      • Alex Jones says:

        Yes, London also enjoyed expansion as a result of India being part of the former British Empire.

      • I think India is just part of the story.I have read novels set in Colonial Africa,the Caribbean,the Americas etc.and migration to London is a recurring theme.The works might be fiction but I picked them for their elaborate research into the period.

      • Alex Jones says:

        Perhaps works of fiction, but they include truth. London is an international city since its birth.

      • And I recollect French Huguenots and Flemish migrants,Jews from Spain etc.
        Truly an international city since historic times.
        I am reminded of the story of the Sassoons.Link
        London attracts not just foreign immigrants looking for a better life but a certain type of sophisticated,cosmopolitan world citizen,looking for others of the same type.

      • Alex Jones says:

        Yes, every community has an attraction to a specific outlook, London attracts the internationalist type of person.

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