Our winter newsletter predictions have been superseded by the events of the middle east war conflict.
It has affected global economic and financial markets, as a result we are seeing higher inflation, higher borrowing rates, a slow down of cash flow in the banking system and the general cost of living rising. The full financial costs are yet to be truly felt.
Without diminishing the human or economic cost involved (our thoughts are with all in the region) such events can alter global flows in ways that benefit other regions.
Plaza Estates have already received an influx of enquiries from people in the middle eastern region wanting to buy property in prime central London specifically in the areas that our offices in Marble Arch and Knightsbridge are located.
London remains a safe haven and the prime central London market is viewed as a store of value rather than a speculative investment.
When investors are looking for security and safety, developed markets are seen as a hedge against geopolitical risk, currency volatility and inflation. For many buying in London it is a form of intergenerational wealth planning.
London property historically demonstrates capital resilience even during global downturns. London offers value for money compared to the height of the prime central London market in 2015. Increase in asset growth makes London a good long-term investment.
Ultimately, London’s global location, lifestyle and travel connectivity, culture and historic familiarity makes the allure of prime London property a symbol of global status and should be the number one destination for all those looking for security and legacy.
Another growing trend in the PCL property market is the increasing participation of first-time buyers and parents purchasing on behalf of their children. Traditionally, these groups would have rented, but with the limited availability of rental stock and the significant rise in rents, many are opting to buy instead.
For those considering selling or have their properties on the market you need to remain realistic especially in an economic downturn. It is important to remain flexible, take strong advice from your agent. While demand may be thinner, well priced well-presented properties continue to transact, often to cash buyers, international purchasers and needs driven buyers. Today’s buyers are highly informed and remain cautious in downturns. It is essential that you get your pricing right from the start. Price testing the market is not an option. In our experience the best offers come early and produce the best outcome.
We at Plaza Estates would be pleased to guide all those thinking of buying or selling in prime central London this Spring.
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Eitan Fox
I started at Plaza Estates in 1986. Eleven years were spent successfully running the Marble Arch office. Subsequently, I was asked to take on the exciting challenge of running the Sales Department in our Knightsbridge office. I have built an experienced team with the ethos that local knowledge, hard work and professional service will always provide success to our clients. With ever changing technology of which Plaza Estates are at the cutting edge of, I have often been asked, with over 30 years in the business, how I retain my enthusiasm? I am delighted to say many of our multi million pound clients are genuinely my friends and I have a great passion for people. My staff and I never forget that this challenging industry ultimately is a 'Peoples Business'. Therefore I would welcome the opportunity to help you with your property needs and hope you will allow our fully equipped and motivated team to provide you with their professional assistance.
If you want 5-star reviews and want to remove negative reviews from Google, contact me via my profile; my contact details are listed there.
SM
Dear Eitan
In this whole sorry saga, with headbutting, unproactive lawyers, and a comatose estate agent etc etc, you have been a beacon of light throughout. Efficient, professional and responsive. This would never have got done without you.
Thank you.
All the best.
Maurice Shasha
We have been using Plaza Estates for many years for all our property requirements (sales, letting and management) and are delighted with the results and service they constantly deliver and provide!
KS
I generally dealt with the Marble Arch branch most of the time, but I can also say that the Knightsbridge office was also exceptionally helpful and professional on the occasions I did deal with them. Plaza Estates in general are excellent.
YZ
Have interacted with Plaza Estates across a couple of sites and always been impressed. Maurice must be the hardest working, most dedicated, helpful and knowledgeable account manager for any company anywhere! A real asset to the team!
LI
I have been a client of Plaza Estates for over 30 years and received excellent service. Both Rodney on the rental side and Fiona in the property management area have been have been attentive and helpful and always willing to go the extra mile on the few occasions when there were problems.
SA
Hope both of you are doing well. I wanted to thank you for always being there for us and for addressing our concerns promptly; safe to say you have been the best agents I have had the pleasure of interacting with.
KR
We have owned our Flat since 2008, which we purchased through Plaza. Our relationship with Plaza goes back to 1982 when we purchased a nearby flat and Plaza have handled all our lettings since then. I would have no hesitation in recommending Plaza - they will find you a good tenant and ensure your ...
MS
Thank you again for all your advice and calm attitude and charm. Nobody could try harder than you, and for which, we really thank you and appreciate it all, not just now, but over the years.
Thanks again for everything!
LT
Thank you for your kind help and your advice, it's been precious!
