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Explained in plain English

Are there fewer overseas buyers now?

Yes, there are fewer overseas buyers. Changes to stamp duty and capital gains tax, alongside global economic uncertainties, have made London less attractive for foreign investors since the 2014 peak. This reduced demand contributes to the discounts seen in Mayfair and Belgravia homes today.

Stories that explain this

Eight in 10 Mayfair and Belgravia Homes Sell Below Asking Price

Related explainers

What was the 2014 peak? Who buys London's prime homes? What caused the 2014 peak? Could I buy a Mayfair home? How important is property to the UK? Is London losing its allure? Why are luxury homes cheaper? How do they buy property?

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