Education, rich history, and opportunity- London offers more than just tax benefits! Knightsbridge Prime Property focuses on London's lasting appeal, even amid changes to the non-dom tax rules, emphasising the city's ongoing attractiveness beyond tax factors.
London remains a magnet for international buyers, with iconic destinations like Harrods maintaining its allure and attracting affluent investors worldwide. The city has solidified its status as a global investment hub, drawing interest from regions such as the Middle East, Asia, Europe, and America.
Raj Gill, Founder of Knightsbridge Prime Property, commented, “We've noticed a significant interest in buyers from the Middle East, Asia, European and American clients for lettings drawn to London's allure as a global city with world-class amenities.”
Knightsbridge Prime Property has recently facilitated remarkable transactions, including a 24-hour turnaround sale to a Chinese buyer, further highlighting London's enduring appeal to international investors. This swift transaction underscores the city's reputation as a prime destination for property investment, fueled by its strong economy, cultural diversity, and accessibility.
Amid discussions surrounding the abolition of non-dom tax exemptions, Knightsbridge Prime Property asserts that while tax policies are important, they are not the sole determinant of London's attractiveness. Emma Grubmueller, Social Media Marketing Manager at Knightsbridge Prime Property, says, “Personally, I don't see any positive aspects in the proposed changes to the UK's non-dom regime. Our clients focus on factors such as security, quality of life, and culture, all of which the UK provides abundance.”
Despite potential adjustments to tax policies, London's prime property market remains resilient, supported by its diverse appeal and investment opportunities. As discussions continue, Knightsbridge Prime Property reaffirms London's enduring appeal as a global real estate destination.
*Non-domiciled residents, often referred to as 'non-doms', reside in the UK but declare tax on their permanent residence outside the country. Essentially, they are not required to pay UK tax rates on income earned abroad.*