Non-dom reforms blamed for collapse of Harrods luxury property arm Property The collapse of department store Harrods’ luxury property arm was due in large part to the government’s abolition of the non-dom tax regime, estate agents have said. Harrods Estates, which opened on the shop floor in 1897, has announced the closure of its only remaining office in Knightsbridge. London estate agents said the collapse of [...]
Is it high time to buy in super-prime London? Wealth London’s super-prime market has been suffering from a glut of supply in the wake of damaging decision-making from successive governments. Ali Lyon asks, is the tide beginning to turn? To take a walk down Mayfair’s historic Upper Grosvenor Street is to be confronted by a quiet, but dramatic, changing-of-the-guard afoot in one of London’s most [...]
Rachel Reeves’ tax hikes are driving wealthy overseas investors to flee London Property Chancellor Rachel Reeves’ tax hikes have had the “feared impact” of driving wealthy overseas investors to flee London to escape double taxation of their worldwide income, the company behind The Shard has said. Real Estate Management (UK), which is ultimately owned by the State of Qatar, has revealed the exodus has resulted in it being [...]
Zoopla: Rightmove rival handed £500m price tag April 30, 2025 Online property portal Zoopla has been put up for sale with an asking price of around £500m, it is understood. The company, which was launched in 2008, has put on the market by Silver Lake Partners which has owned the group it forms a part of following a £1.6bn deal in 2018. That group also includes [...]
London house prices rise by just £600 as worst borough revealed January 14, 2025 The London borough where more houses fell in value than almost any other area in the UK in 2024 has been revealed. According to new data released by Zoopla, the value of 72 per cent of houses in Kensington and Chelsea fell by at least one per cent last year. A total of 73,200 homes [...]
‘Magnificent’ Hyde Park penthouse on sale for £60m August 13, 2024 A £60m penthouse has gone on sale in Hyde Park in a tentative sign that the super-prime market may be turning towards bigger, more expensive homes again. The apartment, which is one of London’s biggest listings in 2024, includes “one of the largest private terraces in central London”, according to James Van Den Heule, co-founding director [...]
‘Pent-up demand’ drives jump in London prime property sales August 12, 2024 London’s super-prime market seems to following a similar track to the general market: optimism is cautiously increasing as mortgages start to come down following the Bank of England’s rate cut. The number of exchanges in London in June and July was 8.4 per cent above the five-year average, according to Knight Frank. It was a [...]