"Americans are being much more decisive with purchases, partly because they don't want to return to the US due to issues such as gun crime," Jo Eccles, the managing director of London property search service Eccord told the outlet. "With exchange rates in their favor, Americans have already done their number crunching and are armed with their offer, aware of the tax considerations before they arrive."
"This is a stark contrast to three years ago, when our American clients would typically rent before buying, taking longer to put down roots in London," Eccles added. The sharp rise in sales reflects changing attitudes among American buyers amid ongoing local challenges.
Recently, Eccles represented an American buyer who purchased a $42 million home in the posh Notting Hill area, a transaction that would've once been notable but is now more normal than not. The trend has increased significantly over a matter of mere months.
Indeed, numerous luxury brokers are reporting that Americans are their main buyers in the current market, Bloomberg reported based on a survey by the researcher LonRes. Disillusioned Americans have become a crucial portion of London's luxury real estate market.
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