Camilla Dell, the Managing Partner and Founder of Black Brick, a premier buying agency specializing in London real estate, is gearing up for a notable visit to Dubai and Riyadh this November. This strategic trip aims to connect with Middle Eastern investors and shed light on the enduring appeal of London’s property market, even amid shifting economic landscapes.
London continues to capture the interest of Middle Eastern buyers due to its rich cultural scene, world-class educational institutions, and robust investment opportunities. Despite the recent UK budget, the impact on many Middle Eastern investors has been minimal. Most buyers of UK real estate from the Middle East do not plan to become residents in the UK, so the proposed modifications to the UK Resident Non-Domicile tax regime hold limited relevance for them. Additionally, London’s temperate climate offers an attractive escape from the scorching Middle Eastern summers, further boosting its appeal as a destination for second homes.
One change that will impact all buyers of second homes is the increase in the Stamp Duty surcharge, which was increased by 2 percent in last week’s UK budget with immediate effect. This means that, depending on property value and buyer nationality, buyers of second homes will pay up to 19 percent over the value of their home in buying tax. Despite this, the allure of London real estate remains strong, particularly for Middle Eastern investors.
During her visit, Camilla Dell aims to strengthen relationships with existing clients and establish new connections within the region. Her visit comes at a time when approximately 20 percent of Black Brick’s clientele originates from the Middle East, including the company’s largest dealer this year. This highlights the significant role that Middle Eastern investors play in London’s real estate market.
Dell’s itinerary includes meetings with high-net-worth individuals, family offices, and investment firms in both Dubai and Riyadh. These meetings will focus on discussing the benefits of investing in London real estate and exploring opportunities for collaboration. Dell will also provide insights into the current market trends and share her expertise on navigating the complexities of the UK property market.
The visit underscores Black Brick’s commitment to providing personalized and professional services to its clients, ensuring they receive the best advice and support for their real estate investments. By maintaining a strong presence in the Middle East, Black Brick aims to continue attracting discerning investors who recognize the long-term value of London properties.
Dell’s visit to Dubai and Riyadh is expected to further solidify Black Brick’s position as a trusted advisor in the real estate sector, offering unparalleled expertise and bespoke solutions to meet the unique needs of each client. As the Middle Eastern investment in London continues to grow, Black Brick remains at the forefront, facilitating seamless transactions and delivering exceptional results.
