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Is there a change of focus among international UHNWIs property buyers?

West London is no stranger to affluent buyers. The properties for sale in Richmond, Fulham, North Kensington and Chiswick, for example, have long held the thrall of wealthy buyers from around the world. These Ultra High Net Worth Individuals (UHNWIs) have been enthusiastically buying up west London property for some years, comment Winkworth, whether it's to live in permanently, to rent out or for use as a holiday home/occasional base in the capital. The financial clout and ferocious appetite for buying among international UHNWIs has edged out some traditional buyers: mainly those trying to purchase with a mortgage, who have been brushed aside by cash buyers making offers above and beyond the asking price. Supply has also been restricted, especially during times of Eurozone crisis, when west London estate agents' 'phones ring constantly with enquiries from European and Russian buyers. West London property, however, may become more available over the coming months as research reveals there are new focuses among the ultra-wealthy - many of whom have become pre-occupied with 'trophy homes' or 'passion investments', as they are sometimes called. News from the real assets department at Legal & General Investment Management suggests that wealthy individuals from around the globe are turning their attention to London's commercial property market, with an Brazilian billionaire now owning 30 St Mary Axe (the Gherkin) and a Spanish UHNWI now in control of 6 St James Square - headquarters of global mining giant Rio Tinto PLC. There's also speculation that London could lose its appeal among UHNWI to other world cities over the next decade, with New York, Singapore and Hong Kong predicted to attract the ultra affluent at a faster rate than London. No doubt, a possible mansion tax after the General Election is affecting interest among some of the global elite, especially if there are any extra penalties for non-national owners. As international money moves across to Asia and to North America, Winkworth forecasts a greater availability for traditional owner-occupiers looking for properties for sale in west London. Of course, the allure of west London - with its cultural prowess, historic surroundings, waterside setting and employment gravitas - will continue and Winkworth is closely monitoring the activity and buying rate among UHNWIs to see if any of the predictions will bore out. If you would like to know more about the west London property market - including the latest properties for sale and flats to rent in west London, contact Winkworth today.

West London is no stranger to affluent buyers. The properties for sale in Richmond, Fulham, North Kensington and Chiswick, for example, have long held the thrall of wealthy buyers from around the world. These Ultra High Net Worth Individuals (UHNWIs) have been enthusiastically buying up west London property for some years, comment Winkworth, whether it's to live in permanently, to rent out or for use as a holiday home/occasional base in the capital.

The financial clout and ferocious appetite for buying among international UHNWIs has edged out some traditional buyers: mainly those trying to purchase with a mortgage, who have been brushed aside by cash buyers making offers above and beyond the asking price. Supply has also been restricted, especially during times of Eurozone crisis, when west London estate agents' 'phones ring constantly with enquiries from European and Russian buyers.

West London property, however, may become more available over the coming months as research reveals there are new focuses among the ultra-wealthy - many of whom have become pre-occupied with 'trophy homes' or 'passion investments', as they are sometimes called.

News from the real assets department at Legal & General Investment Management suggests that wealthy individuals from around the globe are turning their attention to London's commercial property market, with an Brazilian billionaire now owning 30 St Mary Axe (the Gherkin) and a Spanish UHNWI now in control of 6 St James Square - headquarters of global mining giant Rio Tinto PLC.

There's also speculation that London could lose its appeal among UHNWI to other world cities over the next decade, with New York, Singapore and Hong Kong predicted to attract the ultra affluent at a faster rate than London. No doubt, a possible mansion tax after the General Election is affecting interest among some of the global elite, especially if there are any extra penalties for non-national owners.

As international money moves across to Asia and to North America, Winkworth forecasts a greater availability for traditional owner-occupiers looking for properties for sale in west London. Of course, the allure of west London - with its cultural prowess, historic surroundings, waterside setting and employment gravitas - will continue and Winkworth is closely monitoring the activity and buying rate among UHNWIs to see if any of the predictions will bore out.

If you would like to know more about the west London property market - including the latest properties for sale and flats to rent in west London, contact Winkworth today.

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