By Camilla Dell.
Black Brick’s Founder and Managing Partner, Camilla Dell, wrote an article for the Financial Times, discussing how geopolitical uncertainty in the Middle East is influencing the decisions of internationally mobile high-net-worth individuals and what it could mean for London’s prime property market.
In the article, Camilla explains that while some UK buyers have become more cautious amid global uncertainty, enquiries from clients based in the Middle East have increased as they reassess where they want to live and invest. She argues that periods of instability often reinforce London’s appeal as a safe, transparent and internationally recognised property market.
Camilla also explores why today’s market presents opportunities for well-advised buyers, highlighting increased levels of available stock, stronger negotiating conditions and London’s long-term appeal. Looking beyond the property market, she suggests the UK should do more to attract internationally mobile wealth by ensuring its tax and immigration policies remain globally competitive.
Key Quotes from Camilla in the article were:
“The effect of missiles and drones on the Dubai property market was instant. War has brought home to wealthy expats the importance of diversification of their property portfolios — and the luxury of having options.”
Camilla’s view on the London property market, “It is very much a buyers’ market. Motivated buyers have the ammunition to negotiate on price.”
On tax, Camilla said, “If Rachel Reeves wants to “bang the drum for UK plc”, she should reinstate the investor visa for the very wealthy, which offered residency in return for a £2mn investment in UK share or loan capital. And get rid of unlimited inheritance tax on assets held in worldwide trusts — a main driver of the wealth exodus we have seen.”
Camilla ended her article by saying, “Many residents of the UAE who are currently considering their futures want to come to the UK — we would do well to make it an attractive prospect.”
Read the full article here.