International Life Magazine Summer 2012

Page 40

property

>> the increase in stamp duty they have not been deterred. It is no surprise to us that demand for the top end of the London market continues to flourish. Not only does this key financial centre have a particularly convenient time zone, but we have retained our currency and therefore have a degree of economic autonomy. For now the mavericks of Europe are benefiting. Â The convenience of London in

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relation to other international cities, the cultural aspects and the enormous improvements in the service industry - in particular hotels, restaurants and prime shopping coupled with the potential capital growth in the market is continuing to lure prime purchasers from around the world. Despite Paris and New York regaining some momentum these markets tend not to be fuelled by the international purchaser in the same way as London. According

to Citi Private Banks The Wealth Report, property accounts for 35% of HNW investment portfolios second to investing in their own businesses. Â London is almost unilaterally considered both in terms of a business environment and in terms of a place to live, as the best city in the world. This is because of its cosmopolitan nature, its innate safety and the fact that it is the most important commercial centre worldwide. All nationalities feel


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