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The Global Rich Are Rushing to Buy U.K. Country Estates


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Last month, Savills listed the Bowden Park estate for £35 million ($46.4 million). The property includes a 15,900-square-foot, 18th century mansion set amid 22 acres of manicured gardens and 1,400 acres of farmland in Wiltshire, which is about a two-hour drive from central London. In any other year, the property would likely have sat on the market.  

Read more at: https://www.bloombergquint.com/pursuits/global-rich-are-rushing-to-buy-uk-country-homes-and-historic-estates
 

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I just don't believe the story that they're buying estates for lockdown, which estate agents are putting out. 

For one thing they waited till after lockdown to buy. 

Is there a sniff of revolution in the air (abroad )?

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I just don't believe the story that they're buying estates for lockdown, which estate agents are putting out. 

For one thing they waited till after lockdown to buy. 

Is there a sniff of revolution in the air (abroad )?

Why would you want to lockdown in the UK! Plenty of warmer cheaper places?

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I just don't believe the story that they're buying estates for lockdown, which estate agents are putting out. 

For one thing they waited till after lockdown to buy. 

Is there a sniff of revolution in the air (abroad )?

I know some one who is worth a few hundred million $ (tech company) and they are looking outside of the US right now. It's not uncommon from what I hear ( i talk to the US a lot), and I believe what is driving such searches is concern about higher taxes,  Dollar devaluation and possible social disorder. To be fair, it is the tax part that is mainly driving it - they might stomach Biden, but if he pops his clogs.... we might get President Harris with Bernie Sanders the point-man on the economy.

It will be interesting to see if firms start delisting from the Nasdaq.

In terms of property search, the main ones I am hearing are Iceland (close to the US, but cold), UK and NZ.

 

 

Edited by Mikhail Liebenstein
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Not what I am seeing - exactly the opposite, actually - was looking for a family member in Sussex (last looked just as Covid struck - 1-3 million to spend)... there were loads of empty houses - some had been stripped - looked like financial distress hitting bankers and businessmen - had never seen anything like it - a huge amount of choice too - one had taken the carpets and every fitting you could detach! Not something you do when you're attempting to sell a country pile! 

Perhaps not on the level of the types of estates bought by the global rich (but very few of those come to market anyway) - it looks like spin to me. Good old PR, eh. 

Edited by gruffydd
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  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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