Anthony Lassman is well-acquainted with the desires of the ultra rich.
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London mansions are selling at a discount after Brexit — and the wealthiest buyers in the world are rushing to cash in
Brexit has led to discounts in London's luxury home market.
Anthony Lassman, founder of Nota Bene Global.
a higher stamp duty tax in 2014, and prices across the board fell by about 10-15%, Lassman said.
"However, with a weak pound following Brexit, those buying in dollar-related currencies are seeing an additional 18%-20% currency bonus so the actual gain can be as much as 30% off the peak point in the market of 18 months ago," he said.
This has led to a growing interest in London real estate from foreign buyers. Lassman says this trend is most pronounced with buyers he's worked with from China, the Middle East, Scandinavia, and North America.
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"As January closed and we entered February we started to see demand pick up with the canny buyers, especially those holding dollars, realizing that now might be a good time to enter the market," Lassman recently told Business Insider.
He added that while there are still many political and economic uncertainties to consider — some of which may prove detrimental to real estate developers and businesses — foreign buyers who are looking for a deal are currently finding themselves in a good position.
"2017 will be interesting as there are still many factors affecting decision-making in general terms. Brexit is one," Lassman said. "Yet, the super rich chasing the super-prime look for the long term. As long as they believe they are purchasing the best at a fair price, we see momentum building."
Other real estate professionals also seem optimistic about the market's recovery post-Brexit.
"Prices are firming up, although they are still considerably off since the top of the market," Property Vision's Charlie Ellingworth told the Financial Times. "Where [a home] is good, there is competition — if something looks like a bargain, people will go for it."
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