Real estate experts have said the impact of sanctions on Russians could lead to a saturated market in some of London's priciest neighbourhoods. “While the sanctions against Russia only impact a relatively small pocket of the market, the prime market is one that very much operates on quality over quantity,” according to Benham and Reeves. It comes as homebuyer demand across the capital has dropped in the first quarter of the year, according to the estate agent's calculations. Current demand across the core prime market currently sits at 25%, down 2% on the final quarter of 2021, but still some 5% up year on year. However, demand for homes with the biggest price tag is at just 4% on average following a 5% quarterly drop.
City A.M.
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