Trouble In Egypt Boasts London Super Prime Market.

Ujjwala08 October 15th, 2020 05:48

During the recent troubles in the Middle East, the number of Egyptians inquiring about the most expensive addresses in London has risen. Just a few weeks ago, an Egyptian family from Cairo purchased a 5 million flat in central London. They registered with a London agent, and they then emailed them a brochure for the flat. They then paid for the flat in cash.

The same agency has Had serious inquiries from Egypt since the political unrest back in January. Between them, they have looked to gain more than a 100 million of London’s real estate, and it is all to buy with cash. Many would now deal with oil, land, and clothing. Many of them want to spend around 20 million a house.

credit: third party image reference

Another agent predicts that buyers from the Middle East will spend 2 billion on residential property in Britain this year. They spent 1.15 billion in 2009, and last year they spent 1.5 billion. They are predicting this because of the political upheaval that has occurred last month. Other agents have also seen rises in buyer inquiries from the Middle East in the three weeks are looking in 500,000 to 3 million bracket with them.

credit: third party image reference

Buyers from Kuwait, Iran, and Saudi Arabia are looking too.Just in the last few weeks, a house in Eaton Square, the market for a 28 million, has been few Middle Eastern buyers. Belg-rave Square, a 12.5 million penthouse has just by an Egyptian. Others are looking to rent, and the area of Homestead has had inquiries about 20,000-week rentals in some properties The Egyptians who want to rent.

credit: third party image reference

The Saudi Royal family are also looking. A Saudi princess has been looking at a 60 million house in Holland Park. The Saudi Royals favor Mayfair when buying real estate, Weal the Arabs do like areas such as Knights bridge and Regent’s Park. Lots of high-end inquiries go through intermediaries based in London. Purchases In the made through off-shore companies. Colonel Qaddafi's son Saiph bought his Homestead home in 2009 through Captain Seas Ltd Which, is a company registered in the British Virgin Islands for 10 million. He tried to sell the property last month for 10 million, but let it out for 9,750. However, agents are wary of having any dealings with anyone related to Libya for the unrest there now.

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