London's prime property market remains strong

City A.M. interviews Uma Rajah, the CEO and co-founder of CapitalRise, about how the prime central London market remains strong despite Brexit, Covid and market mayhem. Rajah said the firm is seeing “high demand” right now, having processed £46m in loans two weeks ago, and said its resurgence can be seen with a 71% growth in prime central properties since the pandemic. Uma said the market is not immune to the financial turbulence, adding that: “rising interest rates makes borrowing more expensive” and “that has a massive impact on all areas of the property market.” However, she said in the prime property market “people tend to borrow less because of the level of affluence.” She also warns that energy crisis may however have a secondary impact on the industry, with “general cost inflation” being a major factor in redevelopment and regeneration of undeveloped high-end assets. 

City A.M.