Bull and Bear have not escaped for half-term. The closest they have got to going away is reading Savills’ latest World Cities Prime Residential Research Paper.
Despite all the current global political and economic uncertainty, prime global residential property has remained pretty resilient, with average capital value growth of 2.20% in 2024.
Madrid and Barcelona were the two cities which saw the strongest capital value growth in 2024. However, London saw prime Central London residential values fall.
In the UK, the expectation is that the abolition of ‘non-doms’ status and the additional 2% stamp duty surcharge will result in further downward pressure on prices in the short term. Savills are expecting prime residential capital values in London to fall a further 4% in 2025.
Bull and Bear been given next Sunday off, so will be back in a fortnight’s time (2 March).