EVENT: The London Property Market: Behind the Headlines
Date: 5th July, 2018 Time: 06:00 pm - 09:00 pm
This year's real estate seminar was entitled, 'The London Property Market: Behind the Headlines' and included five presentations from a variety of experts who are working in different areas of London property.
The seminar was introduced by Claire Cripps, Senior Manager, Global Wealth at First Abu Dhabi Bank.
Tom Bill, the Head of London Residential Research for Knight Frank, presented a series of charts showing how residential prices have been moving in England as a whole, and then in various parts of London. He also showed how the volume of transactions in London has been remarkably consistent over the last ten years, albeit with short-term spikes and troughs due to the Global Financial Crisis and the Brexit vote. He also presented useful figures showing how the price of London property has changed for different price bands – all price bands have performed in the same way with only minor differences.
Nicholas Simmonds, Assistant General Manager at National Bank of Kuwait International, commented that prime yields have remained at 3.75% in the West End of London and 4% in the City, with these rates being supported by sustained levels of demand and continuing flows of overseas capital, especially from the GCC and Asia. He pointed out that higher yields can be achieved by investing outside London, although London still has many attractions, such as liquidity and value relative to rival global cities.
Hannah Wailoo, a Senior Associate at Trowers and Hamlins, described the British government's plans to launch the Public Register of Beneficial Ownership for Overseas Companies, showing who will be captured by the new disclosure requirement and what they will need to disclose. She also described the likely changes to corporation tax and tax on investment gains that will be relevant to real estate investors.
Fuad Shakshir from QIB (UK), described recent developments in Islamic finance in London and Nasser al-Shawaf, the CEO of Rassmal Investments, described two prestige investments that his firm is managing in London: Regent's Crescent and Vauxhall Cross.
The presentations were followed by a lively question and answer session, and then a buffet dinner during which participants were able to mix with the speakers.
The seminar was sponsored by First Abu Dhabi Bank, NBK International, Trowers & Hamlins and Rassmal.
Photographs from the event can be seen on the Gallery Tab of this website. Copies of the presentations are below.
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