Wealthy Democrats flock to London amid Trump presidency
After Donald Trump's election victory, wealthy Democrats from the USA are looking to invest in luxury property in London. Estate agents have noticed an increased interest in buying homes in the United Kingdom. Clients from the USA wish to create "safety nets" for themselves.
Affluent Democrats from the USA are actively seeking luxury properties in London following the recent presidential election. Donald Trump's win has sparked interest among wealthy Americans who want to purchase real estate in the UK and, according to estate agents, create a "safety net" for themselves. They disagree with the president-elect's rhetoric, writes Britain's "The Telegraph".
London as a safe haven
Becky Fatemi from Sotheby’s International Realty received five phone calls from wealthy Americans in just two days, who, she claims, want to relocate immediately after the election results were announced.
"That’s people saying, ‘he’s here, and he’s here for the next four years, and I don’t want to be, so these are the dates that we’re flying over’. All of those five are coming here within the next week," Fatemi said in a conversation with "The Telegraph".
The British newspaper describes an example of a family that flew to London the day after the election results were announced and is seeking a rental property at approximately £70,000 (€85,000) a month. The parents are also searching for schools for their three children, who are expected to start school in January.
"Trump is the last straw"
Marco Previero from R3Location confirms that London is currently viewed as a safe haven, more aligned with Democratic values. "London has always been seen as a safe haven, but really even more so now with a more stable government that leans to the Left," Previero said, as quoted by the newspaper.
Will Watson from The Buying Solution is working with several families who wish to buy homes in London for over £10 (€12) million due to the political situation in the USA.
Trump is the straw that breaks the camel’s back. Americans are saying, ‘do you know what? I just couldn’t live under another one of his terms.’ - said Watson, as quoted by "The Telegraph".
The demand for luxury rental properties is high because clients want to move quickly, and the stamp duty fees for foreigners are substantial. The tax for purchasing a second home for £10 (€12) million amounts to over £1.8 (€2.1) million, informs the newspaper.
