If the research is true, prime central London property prices could be on the up. Until now the static nature of the property market has meant foreign property owners have not had to contend with gains and incur non-resident capital gains tax (NRCGT) when it comes to selling or restructuring their ownership. However increasing prices could now mean gains will be generated and NRCGT will become a cost to contend with.
As demand and activity steadily rise, price declines continue to reveal evidence of bottoming out. Average prices fell by 0.2% in August and annual growth was clipped to 5.4% - the lowest rate since November 2016.