The Panama Papers debacle could potentially impact London’s luxury property market, if investors opt to rent rather than invest via offshore companies. Property experts say that this latest development reduces the shine of London's high-end central property market further, following after increased taxes, a slowdown in the oil and raw materials markets, and political announcements from London mayoral candidate, Sadiq Khan, who plans to introduce more stringent anti-money laundering checks. “While it is too early to draw any firm conclusions about what will happen with the new legislation, we can see how these developments are likely to affect the value of real estate across London, particularly for
The Panama Papers debacle could potentially impact London’s luxury property market, if investors opt to rent rather than invest via offshore companies. Property experts say that this latest development reduces the shine of London's high-end central property market further, following after increased taxes, a slowdown in the oil and raw materials markets, and political announcements from London mayoral candidate, Sadiq Khan, who plans to introduce more stringent anti-money laundering checks. Around 2.8k companies set up by Panamanian law firm Mossack Fonseca are reportedly connected to over 6k title deeds on mostly London property, worth at least £7bn.