Russia sanctions not an issue for London resi
Opinions are mixed on what the economic sanctions that have been imposed on Russia and Russians for their supposed transgressions in the ongoing Russia-Ukraine crisis might mean for the high-end London residential market. Wealthy Russians, motivated by London’s status as a safe haven and a good place to do global business, have been a mainstay of this market in recent years, along with similarly wealthy purchasers from Asia and the Middle East.
“London’s army of estate agents cannot seem to agree on the knock-on effect for prime London resi,” says Naomi Heaton, CEO of residential fund and asset manager London Central Portfolio. “One camp can barely hold the caviar trays steady, dreading an asset freeze that will see the market tumble, while the other camp is toasting the vodka, proclaiming that sanction fears will accelerate the stream of Russian property investors. The tr