Spike in London sales and lettings enquiries from the Gulf as war intensifies
Estate agents are reporting a big increase in both sales and lettings interest from expats and investors from the Middle East due to the conflict there.
Estate agents operating in prime London areas are reporting a spike in enquiries from expats and investors from the Middle East.
War with Iran has prompted many people to look for somewhere safer to live with their families and the UK capital is an obvious location.
Significant upturn
Beauchamp Estates says there has seen “a significant upturn in enquires – at 15% – from the Gulf region, due to the instability currently taking place in the Gulf, and the bombing of places like Dubai”.
And Rosy Khalastchy, Director at Beauchamp Estates, says: “Buyers from the Gulf region are currently the largest group of buyers for luxury homes in Central London, especially for homes priced above £15 million.
“Gulf buyers currently account for 25% of all £15million plus home sales across London, up from 20% in 2024. They are the largest buyer group, followed by American purchasers.”
Inundated
The Daily Mail is reporting rents in some London postcodes surging, and estate agents describe being ‘inundated’ with enquiries with some willing to pay more than £3,000 a week for high-end lettings.
Areas in demand include Kensington, Chelsea, Notting Hill and Holland Park.
Reality check
Mark Pollack, Co-Founding Director of Aston Chase, says: “If anything, the current Gulf crisis has given the London property market a boost, as the conflict has not surprisingly been a very abrupt reality check for many who have been lured to Dubai predominantly due to the tax-free regime, climate and perceived lifestyle.
“I sense that it is helping us to get existing deals over the line,” he says.
