‘London is better positioned than its main competitors to come out of Covid well’: Northacre’s chief on the resilience of London’s luxury property market
If you had asked me for my predictions for PCL on New Year’s Eve last year, I don’t think anyone could have predicted the environment we are in now, writes Niccolò Barattieri di San Pietro, CEO of super-prime London property developer Northacre.
That said, the market has been incredibly resilient over the past eight months and has built on the momentum it gained post-election. I have been astounded with resilience of PCL overall and despite the restrictions in place, sales at The Broadway totalled in excess of £40m in the six months from March. The flexibility of the London property market, especially PCL, has been seen time and time again after Global recessions, stamp duty hikes and changes to non dom rules. It is abundantly clear that PCL property remains a prize asset which uniquely bridges the gap between East & West.