Millionaires Move Out!
April 4th 2016
In a recent report - more "Millionaires are moving out of London and those moving in are 10% of the previous year". The number of millionaires moving to London from overseas slowed dramatically last year, new research reveals. A net 500 millionaires moved into the capital in 2015 compared with 6,000 the previous year, according to wealth specialists annual Millionaire Migration report. 2014, saw around 7,500 individuals with $1m assets or more (excluding their primary residence) moving to London whilst 1,500 left. However, that number more than halved to 3,000 last year, with almost the just as many (2,500) leaving. We believe that the blame can quite literally be laid on the doorstep of 11 Downing Street and Chancellor George Osborne's tax changes over the last 24 months.Increased transactional costs, higher annual carrying costs - coupled with a wider tax net for capital gains and death duties has resulted in only the long term buyer now interested in central London. It would appear that we are no longer proud that the world wants to "invest" in London. In this reduced transactional market, it is the prime properties and prime areas that become the focus of attention. St Johns Wood and it's surrounding areas is one of the most sought after areas in prime central London offering choice and investment potential.
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Millionaires Move Out!
April 4th 2016
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In a recent report - more "Millionaires are moving out of London and those moving in are 10% of the previous year". The number of millionaires moving to London from overseas slowed dramatically last year, new research reveals. A net 500 millionaires moved into the capital in 2015 compared with 6,000 the previous year, according to wealth specialists annual Millionaire Migration report. 2014, saw around 7,500 individuals with $1m assets or more (excluding their primary residence) moving to London whilst 1,500 left. However, that number more than halved to 3,000 last year, with almost the just as many (2,500) leaving. We believe that the blame can quite literally be laid on the doorstep of 11 Downing Street and Chancellor George Osborne's tax changes over the last 24 months.Increased transactional costs, higher annual carrying costs - coupled with a wider tax net for capital gains and death duties has resulted in only the long term buyer now interested in central London. It would appear that we are no longer proud that the world wants to "invest" in London. In this reduced transactional market, it is the prime properties and prime areas that become the focus of attention. St Johns Wood and it's surrounding areas is one of the most sought after areas in prime central London offering choice and investment potential.
Millionaires Move Out!
April 4th 2016
In a recent report - more "Millionaires are moving out of London and those moving in are 10% of the previous year". The number of millionaires moving to London from overseas slowed dramatically last year, new research reveals. A net 500 millionaires moved into the capital in 2015 compared with 6,000 the previous year, according to wealth specialists annual Millionaire Migration report. 2014, saw around 7,500 individuals with $1m assets or more (excluding their primary residence) moving to London whilst 1,500 left. However, that number more than halved to 3,000 last year, with almost the just as many (2,500) leaving. We believe that the blame can quite literally be laid on the doorstep of 11 Downing Street and Chancellor George Osborne's tax changes over the last 24 months.Increased transactional costs, higher annual carrying costs - coupled with a wider tax net for capital gains and death duties has resulted in only the long term buyer now interested in central London. It would appear that we are no longer proud that the world wants to "invest" in London. In this reduced transactional market, it is the prime properties and prime areas that become the focus of attention. St Johns Wood and it's surrounding areas is one of the most sought after areas in prime central London offering choice and investment potential.
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