Russians buying housing in London were the houses cheaper

For buyers from Russia in 2015 was only 1% of transactions from the total number of property sales in the Central London areas of Kensington and Chelsea, writes in Friday’s Financial Times newspaper, citing data from the company’s Hampton International. In 2014, the Russians accounted for 6% of transactions in these areas.

At the same time, the number of Russians selling real estate is cheaper in those areas of Inner London, Islington, Pimlico and Clapham, increased from 2% in 2014 to 11% in 2015 from Hampton International.

In addition, a growing number of Russians disposing of property in Kensington and Chelsea. Assessment Hampton International, in 2015, the Russians have sold 3% of the total number of sold properties in those areas. In 2014 this figure was three times less.

Realtors also note a decline in the number of sales facilities in Kensington and Chelsea clients from China, 8% in 2014 to 2% in 2015. the sale of real estate in Outer London Chinese customers increased from zero to 2%.

In the past, buyers from Russia and China “helped propel the market of premium housing in the heart of London to new highs,” said Financial Times. After the devaluation of the ruble amid falling oil prices and Western sanctions, the Russians remain interested in property in London but are buying more affordable houses, the newspaper quoted the head of research group Hampton International Fionnuala early. “Real estate in the UK for Russians now compared to the beginning of 2014 was almost twice as expensive,” explained Earley.

Assessment Hampton International, the enthusiasm to buy expensive real estate in London is growing among buyers from the Middle East. In 2014 they accounted for 10% of transactions in 2015 is 16%.

In Kensington high street is Kensington Palace gardens, known as “billionaire’s row”. Mansions on this street are owned including those born in the USSR billionaires Roman Abramovich and Len Blavatnik.