London Mayor Urges Action on Putin-Linked Properties Amid Housing Crisis and Tourism Regulation

London Property - Home of Super Prime

In this podcast episode, we delve into the flourishing super prime real estate market in London, driven by an international clientele and soaring prices. Despite concerns over Russian sanctions, luxury property sales have surged, particularly from buyers in the US, Saudi Arabia, UAE, and China. Cash purchases are rising, reflecting a shift away from traditional mortgages due to global economic factors. As demand remains robust and supply diminishes, prices are expected to climb, signaling continued strength in the super prime market. London Mayor Sadiq Khan urges action against properties linked to Vladimir Putin's regime, proposing the sale of assets to benefit those in need, including building low-cost homes. Additionally, the UK government is pushing forward with legislation to regulate short-term rental properties, aiming to strike a balance between supporting tourism and addressing housing availability for local communities. The housing crisis, exacerbated by post-Brexit migration, underscores the need for comprehensive solutions. Subscribe to our newsletter for weekly updates on the super prime property markets.

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