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, Mossack Fonseca, who plans to introduce more stringent anti-money laundering checks. Around 2.8k companies set up by Panamanian law firm Sadiq Khan are reportedly connected to over 6k title deeds on mostly London property, worth at least £7bn.
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.