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Super – Prime London Property Market Flourishing Despite Non – Dom Reforms !

The Rise of Luxury Property in Abu Dhabi

Abu Dhabi, the capital of the United Arab Emirates, has seen a significant surge in luxury property purchases in recent times.

The End of a Legacy

The tax status in question, known as the Foreign Earnings Exemption, has been a cornerstone of the UK’s tax system for centuries. It allowed wealthy foreigners to pay a significantly lower tax rate on their foreign-earned income, making it an attractive option for high-net-worth individuals. However, the Chancellor has deemed this tax status to be out of date and no longer fit for purpose.

The Impact on Foreigners

The abolition of the Foreign Earnings Exemption will have a significant impact on wealthy foreigners who have been benefiting from this tax status. These individuals will now be subject to the standard UK income tax rate, which is significantly higher than the rate they were previously paying. This change will affect not only the individuals themselves but also their families and businesses, as they will be required to pay a higher tax rate on their foreign-earned income. • The abolition of the Foreign Earnings Exemption will also have a broader impact on the UK’s economy, as it will reduce the amount of foreign investment in the country.

Since then, CIRE has expanded its presence in the luxury real estate market through strategic partnerships and acquisitions.

  • *Strategic Partnerships*: CIRE has formed partnerships with prominent luxury brands and developers to expand its reach and offer exclusive services to high-net-worth individuals.
  • *Acquisitions*: CIRE has acquired several luxury real estate companies and assets, allowing it to tap into new markets and expand its portfolio.
  • *Digital Transformation*: CIRE has invested heavily in digital technologies to enhance its online presence and provide a seamless customer experience.Key Partnerships

    • CIRE has established partnerships with several luxury brands and developers to expand its reach and offer exclusive services to high-net-worth individuals. Some of these partnerships include:

  • *The Ritz-Carlton*: CIRE has partnered with The Ritz-Carlton to offer luxury real estate services to its high-end clients.
  • *LVMH*: CIRE has partnered with LVMH to provide exclusive access to luxury properties and experiences.
  • *Gucci*: CIRE has partnered with Gucci to offer luxury real estate services to its high-end clients.Digital Transformation

    • CIRE has invested heavily in digital technologies to enhance its online presence and provide a seamless customer experience.

    The London Property Market: A Beacon of Stability

    The London property market has long been regarded as a safe-haven for ultra-high net worth individuals (UHNWIs) seeking to diversify their portfolios and protect their wealth from global economic downturns.

    The Resurgence of Super-Prime London Properties

    The super-prime London property market has been experiencing a resurgence in interest, marking a significant shift in the market’s trajectory. This phenomenon is a welcome relief for the luxury property sector, which has been struggling to regain momentum after a prolonged period of decline.

  • Decreased investor confidence
  • Reduced demand for luxury properties
  • Increased regulatory scrutiny
  • Economic uncertainty

    • A Return to Pre-Brexit Levels

    According to Knight Frank, the market has only just returned to pre-Brexit levels.

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