Second homes have never been so popular. Before lockdown, just 3 per cent of Britons had a retreat in the countryside or the coast – somewhere to recharge the batteries.
Investing in property is a daunting process that is both meticulous and time-consuming. From exterior to interior and everything in between, all of the changes and intricate details of your house contribute to the big jar of property value.
At one time, the £32 million ($42 million) deal for a home in the trendy Notting Hill district would’ve raised few eyebrows among London’s high-end brokers, who have seen dozens of similar purchases over the past decade. But amid a slump in luxury transactions this year, the sale stood out — as did the nationality of the buyer: he’s American.
Once the preserve of the wealthiest, these specialists are now being sought out across the property spectrum.
Listed homes are worth 50 per cent more on average than unlisted ones — but buyers should be aware of the extra costs involved and hidden dangers.
Our Regional Director for Cornwall, Anna Sharp offers her thoughts to The Times to share her expertise on which particular seaside towns home hunters should be looking at to buy in 2024.
Amenities at London’s most expensive new luxury housing developments are getting increasingly competitive. Just having a hotel-size pool, a spacious gym and 24-hour concierge service is no longer enough to attract ultrahigh-net-worth buyers.
Photos of Rory and Charlotte’s north London flat, listed for sale in April, show the period features, the natural light, the terrace. But, in almost every photo, curled on the bed, peering down the hallway or standing in the kitchen, is a silent observer: their black cat Dusty.
A few days ago, the British comedian Simon Brodkin went viral on social media when he asked some New Yorkers what they thought of Rishi Sunak. “Of who?” most of them replied. Oddly a few thought he was a DJ. “Techno DJ. Doof doof doof.”
This week alone I must have been sent a dozen invitations to champagne-fuelled property launches. The last time I was being sent this sort of invitation was before the financial crisis.
Property transactions are at a standstill, with the number of homes sold this year a third lower than in 2022. Buyers have seen their budgets slashed by the mortgage chaos while sellers’ expectations of what their homes are worth have yet to catch up with the current reality.
Non-domiciled status came into being back in 1799, in response to the growth of the British Empire around the world. It meant British subjects living in far-flung colonies did not have to pay taxes in the UK.
