Trevor Abrahmsohn, Founder and Managing Director of Glentree International, gives his predictions for 2018, covering topics including inflation, the Pound, the stock market, property, UK politics and the World Cup.
Glentree Blog
Category Archives: property
Response to the Chancellor’s Budget, November 2017
The abolition of Stamp Duty for first time buyers up to £300,000 is a very good initiative, however, whilst it is a very welcome £5000 gift for these vulnerable groups, it never the less may serve to ‘stoke up’ the market at the lower end, which could perversely, work against them.
The former Chancellor Osborne, reduced Stamp Duty at the lower end which exacerbated inflation in this sector from circ 5-8%, particularly in London, and this served to disenfranchise buyers at this end of the market since their deposits were not rising at the same pace as prices. Continue reading
The new wave of Russian buyers descending on our shores
Three years ago there were more Russians that you could ‘shake a stick at’ hoovering up a plethora of prime properties in London, with gay abandon. We not only thought ‘the Russians are coming’, it was an avalanche.
Originally, after the Cold War collapsed in the 90s, the first Russian families started to set up homes in Highgate, since this was near to the Russian Trade Delegation Compound, in Highgate West Hill, and strangely enough, close to Highgate Cemetery where ironically, Karl Marx is buried. It was interesting to note that when former Soviet spy, Alexander Litvinenko, died (he was allegedly murdered by drinking tea laced with Polonium 210, whilst being entertained by the Russian agent called Lugovi at the Millennium Hotel in 2006), his lead lined coffin was buried in the same cemetery.
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