The Russians formed the pent-up demand could stimulate increased demand for property in London after the lifting of restrictions on movement. First, transactions may not be on favorable terms: for the year housing in the city fell by more than 5%. In the absence of foreign buyers, the structure of demand for property in the British capital has changed, and the house has a great interest, than an apartment.The number of transactions for the purchase of a London estate to Russian buyers can increase dramatically in August and September due to the implementation of pent-up demand. Such forecasts in their study, do analysts Knight Frank. According to their estimates, for the duration of the restrictions on movement in this segment managed to accumulate an unprecedented amount of pent-up demand. “Customers consider mainly the acquisition of property for living and investment at the background of favorable credit conditions and low initial contribution at 10%,”— said the Director of foreign real estate Knight Frank Marina Shalaeva. At the same time, according to experts, stimulate the demand of the statements of the authorities, promising for years to increase the tax on the acquisition of a property worth 2 million pounds.London is traditionally one of the top most popular locations among Russians buy luxury real estate abroad. But against the backdrop of a pandemic, the number of transactions dropped sharply. So, at the end of may 2020 the total number of actual sales, according to estimates by Knight Frank, declined by 50%. To bargain could only be the buyers who had the opportunity to see the object against this background, most agreements were concluded at a significant discount of 10-15%.According to analysts, the average cost of residential property in London by the end of June was 5.3% lower than in the same period last year. At Knight Frank it called the drop unprecedented, but note that the market has already started to recover in June the average price increased by 0.3% compared to may.Similar assessments previously came Savills and analysts. Citing data from TwentyCi they pointed out that in the week of 15-21 June, the number of agreed sales in the market premium real estate in London was 48% above the average weekly value in June last year. According to estimates by Savills, 97% of the agents in the premium segment noted an increased demand for houses with a garden or open space, 82% emphasize the importance of a separate space to work from home, 71% say the desire of customers to live closer to the parks. The consultants explain that the buyers had paid more attention in the West and South-West areas of London than in its Central part. As a result, at the end of the second quarter of apartments fell by 1.6% and prices rose 0.5%.Alexandra Mertsalova
