In the past few years, however, changes in Britain’s Stamp Duty Land Tax rates have resulted in a massive rise in the levy payable on high-value properties, deterring many top-end buyers and eventually slowing down the British capital’s luxury real estate market in 2016. The Index ranks cities by examining a mix of factors that range from practical matters (transport links, personal safety, eco-friendliness, access to a leading university) and financial concerns (ease of doing business, fiscal competitiveness, financial stability and property price per square foot) to more impalpable considerations such as the richness of the local culture heritage, the availability of luxury shopping and the number of ultra-high-net-worth residents.
Lisbon, which currently lies in 30th place, is tipped to see a strong increase in popularity in the near future. The British capital has topped the 2017 Alpha Cities Index, a league table of the world’s most desirable urban locations produced by Warburg Realty and Barnes International Realty, in association with wealth intelligence company Wealth-X. Despite the uncertainty linked to Brexit and a sluggish real estate market, London remains the world’s most sought-after global city for ultra-high-net-worth buyers.
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