The Real Deal New York

London calling: Now’s the time to buy

The city's resi market is bottoming out according to experts
May 19, 2018 06:57PM

Meghan Markle. (Credit from left: Northern Ireland Office, Pixabay)

If you’d like to call the same city as Meghan Markle home, there’s no better time to buy a luxury property on the other side of the pond, according to analysts.

About half of London’s high-end homes are selling for under asking prices with an average discount of about 12 percent, according to Mansion Global. With the strength of the dollar, “you could argue that it might not get better than this and if you wait on the sidelines you might miss the opportunity,” says property consultant Camilla Dell of Black Brick Property Solutions.

“All of the forecasts over the next five years are positive,” she continued, as cited in Mansion Global. “We’re in the window where people buying now will get a good deal.”

Prices could still drop further most experts agree and a recovery is not expected to begin until next year with the real bump coming in 2020, according to Savills. [Mansion Global] — Erin Hudson