Despite the uncertainty surrounding Brexit, one award-winning estate agency has enjoyed a very strong 2017...
Knightsbridge Estate Agents is an award-winning specialist luxury property agency, providing professional and proactive consultancy for prime central London property.
This fast growing estate agency is led by Managing Director Raj Gill who is both optimistic and enthusiastic about the central London property market, despite statistics showing a slowdown in residential sales and lettings in this area of London.
He believes his boutique luxury property agency is reaping the success of the high quality personable service they provide. This, combined with their ability to source extremely high-net-worth buyers and tenants, gives Knightsbridge Estate Agents the edge over their competitors. The majority of the agency’s clientele are based in countries such as China, Russia, India, Qatar, UAE, Malaysia, and Singapore.
Reflecting on his firm’s success Gill states: “We think out of the box and work tirelessly on each instruction, providing regular reports and analysis of market behaviours to our clients. The agency of today has to be much more pro-active due to the ever changing political and financial factors.
“We believe an agent should be realistic and honest with their landlords, vendors, buyers and investors. We pride ourselves on building great relationships with each and every client; a relationship built on trust where we can be relied upon to obtain the best outcome.”
The Brexit vote and the uncertainty in financial markets since has led to a weaker Sterling, which in turn has led to an increase in purchaser enquires on sales properties in prime central London, despite the high stamp duty tax rates, and changes in capital gains tax.
Furthermore, over the last 12 months, many vendors across prime central London, have decreased their sale prices by around 10-15%, which has helped to stimulate more overseas buyers to return to the market.
Gill confirmed that in the last three months they have agreed six deals with values ranging between £4,000 to £8,000 per week. “This is due to many first-time buyers in central London, looking to rent for between 10-14 months, before they finalise a deal on their ideal sales property purchase,” he said.
He continued: “Many of our high-net-worth tenants mostly search for properties around the prime central London areas, where they can perhaps purchase a property which is a shell/requires complete refurbishment to a very high standard luxury interior designed level, which can take anywhere between 12-16 months timeline for the property to be found, conveyancing legal paperwork by their lawyer to be carried out, their builders to fully refurbish the property, and finally source the very best bespoke designer fixtures, fittings and furniture.”
Due to Knightsbridge’s ability to not only find the highest quality tenants, but also to achieve the asking price on 85% of their rental properties listed, the agency has received an influx of rental property instructions from local landlords.