As excessive unemployment following the coronavirus pandemic saps house-buying demand, commercial-property buyers want to make the most of falling costs.
In the UK, home costs are anticipated to fall by 5 % this yr, based on a Reuters ballot of property-market analysts. Costs gained’t get better till the tip of 2022, confirmed the survey. The month-to-month fall for the Nationwide Worth Home Index was 1.7 % in Could.
In the meantime, Hong Kong and mainland China are profiting from cheaper costs in London, shopping for up as a lot actual property as they’ll, based on a report from London-based brokerage Beauchamp Estates.
Buyers from these areas now account for 15 % of worldwide purchaser transactions priced above $ 1.22 million in London’s prime areas. In addition they acquired 20 % of actual property there priced above $ 10 million.
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