Brexit Has a Negative Impact on the British Real Estate Market
The demand for the real estate in the UK dropped precipitously due to the increase of the stamp duty and Brexit concerns.
Last year the world’s richest people bought 153 houses in the capital of England, each of which costs at least GDP £20 million (USD $25 million).
From the end of August and up to the present moment, the largest number of sales is observed in Hong Kong, where 47 houses worth £20 million and more are sold, followed by New York (39). London fell to the third place, which was caused by the problems the city faced due to the Brexit problems.
Until the end of August 2018, the richest people of the world spent GDP £5.2 billion (USD $6.6 billion) on real estate.