In the wake of Brexit, what is the outlook for residential property in the UK?
Opportunities in the London Market
Press Release - BARNES July 2016
A new page has turned for Britain following the June 23 vote in favor of Brexit. However, the immediate reactions that have been expressed should not cause us to forget a few longstanding facts. First of all, 'in analyzing the situation, it is important to separate London from the rest of the UK,' emphasizes Thibault de Saint Vincent, President of BARNES and expert in international luxury real estate.
Winners and losers
UK-based expats will likely be negatively affected by the situation if, in the coming weeks, they need to quickly sell the property they bought during a period of rising prices. However, this is relative to the starting point. Prices had reached very high levels. Up until the day before the referendum, London was 2.7 times more expensive than Paris.An adjustment had already been observed over the past three months and had not escaped the notice of many international investors. The windfall from the increased purchasing power of all other currencies against the pound has strengthened their interest. 'BARNES London has received many calls,' confirms Thibault de Saint Vincent. 'These individuals are looking to take advantage of the drop in both prices on the market and the currency to invest in London. The market is very active because people are looking to take advantage now.'
Indian and Chinese buyers
Real estate professionals expect the emergence of a new population of international investors, made up, according to opinions, of Americans, Chinese and individuals from Hong Kong or Singapore. Others predict clients from the Middle East who, regardless of the situation, seek protection and freedom. There is also talk of Indian buyers, keeping in mind that many wealthy individuals from the ex-colony are already present in England.Paradoxically, many Britons voted for Brexit to protect themselves from non-British investors. However, such investors will be driving the London residential property market throughout the coming months.
A global banking capital cannot disappear overnight
Beyond the drop in the pound, concerns over employment in the financial industry and political uncertainty, London will continue to rely on its specific strengths. It should be kept in mind that 20% of all global banking activity takes place in London.1 Thanks to this driver, which provides 1.25 million direct jobs, London's GDP equaled that of Norway last year. It even grew by 3.3% compared to 2.3% for the country overall.
* 1 according to Standard & Poor’s
An ecosystem of this kind cannot die. It is true that HSBC has indicated it would send 1,000 jobs back to France. JP Morgan has also stated that it could move certain jobs out of the country.
The continued benefits of the 2012 Olympics
Companies are more likely to be reorganized than to completely leave. They know that London's population is pro-Europe: 60% of Londoners voted to remain. In addition, employers can count on highly trained human resources in complex areas of finance. The investments made during the 2012 Olympics helped modernize the city and strengthen its dynamism and accessibility.
BARNES, the luxury real estate group with a global network of offices and 600 consultants, has acquired a majority stake in the high end property consultancy Hanover Private Office, from founder Alex Newall and co-director Nick Wiszowaty.
Barnes President, Thibault de Saint Vincent announced the exclusive partnership with Hanover Private Office.........
23/03/2017 | Barnes International | 1070 vus | 0 com.
4 Stunning Sunny Properties Near the Beach
BARNES features a wide variety of properties, and this week saw quite a few awe-inspiring properties near the beach for sale and for seasonal rental. Here is a roundup of BARNES' 4 best sun-bathed properties of the week.......
12/01/2017 | Barnes International | 1668 vus | 0 com.
Thibault de Saint-Vincent at the 15th Economic Matinale
Thibault de Saint Vincent, President of BARNES will be the guest of the 15th Economic Matinale themed on Heritage & Culture. World leader of luxury real estate, BARNES stands internationally through highlighting the most beautiful cities and regions of France.
During his speech, Mr. de Saint-Vincent.........
24/05/2016 | Barnes International | 2194 vus | 0 com.
Updates on the luxury real estate market in Paris
In Paris, luxury real estate has never been worn as well. With the decline of the Euro, historically low interest rates and reasonable prices compared to other major European cities, the Paris real estate returns to form.
Paris is now the 7th most attractive city in the world for the ultra-rich, ie, those.........
23/05/2016 | Barnes International | 2981 vus | 0 com.
BARNES Marrakech gets a website
BARNES is pleased to present its new website, created for BARNES Marrakech.
Continuing its international expansion, BARNES chose to partner with a local partner with recognized expertise: the agency 'Immobilier International.........
23/05/2016 | Barnes International | 3079 vus | 0 com.
Auction of the house Le Moult, designed by Starck
You are acquiring and looking for an exceptional home in the Hauts-de-Seine?
BARNES offers a historic home designed by Philippe STARCK, with an exceptional environment at the heart of the Ile St Germain. Playing with symmetrical staircases, columns and volumes, double height, the house opens.........
09/05/2016 | Barnes International | 4349 vus | 0 com.
Carlos Cruz-Diez exhibition
Sharing with its international clients its appeal to the excellence and uniqueness, BARNES, luxury real estate leader, offers art exhibitions in its offices. Today, one of the most important figures of kinetic art, the Franco-Venezuelan artist Carlos Cruz-Diez, is hosted by Barnes in its agency rue du Faubourg Saint-Honoré (Paris 8th).........
02/05/2016 | Barnes International | 2592 vus | 0 com.
BARNES signs an exclusive Franco-Russian partnership with Kalinka
The President of BARNES, Thibault de Saint Vincent, and the President of the Board of Kalinka Group, Ekaterina Roumyantseva, formally announced their exclusive partnership. Founded in Moscow, the joint venture aims to support Russian buyers in their search.........
The luxury real estate is back, where to invest in 2016?
The year 2015 has signed the resumption luxury real estate market, according to Barnes branch network. The return to the reality of prices has triggered the French and foreign buyers, income massively on this premium segment. Now that the resurgence is confirmed, what are the areas on which to bet in 2016? Response elements.......
23/01/2016 | Tout Sur Mes Finances | 2453 vus | 0 com.
Luxury real estate: the super-rich return to Paris
Foreign wealthy clientele has made a comeback on the Paris market in 2015, Barnes reveals the network in its annual balance sheet. Falling prices and the foreign exchange effect largely explain this improvement.......
17/07/2015 | Barnes International | 4060 vus | 0 com.
Thibault de Saint Vincent or the art to celebrate the luxury
BARNES, through its excellence and its demands, is the reference in high end real estate for an international clientele. Meeting with Thibault de Saint Vincent, Founder and Chairman of Barnes, leading player of international prestige real estate.