Although there is no official limit, the Belgravia area is the most expensive in London. Located in the heart of the capital, it is the political, administrative and royal heart of Great Britain, where there are many embassies and other administrative infrastructures. Its real estate is the most expensive of the country, we find there many properties of more than 15 million euros. Belgravia is also a refuge destination for many celebrities, such as Roman Abramovic, the country's second-largest fortune.
Since 2011, the property prices have risen by 29% in the United Kingdom and particularly in London, where prices reached a high record . According to UBS, the Swiss banking industry heavyweight, the risk of a housing bubble is high.
Therefore, in order to stop the price boom, the British government proposed solutions in its real-estate white paper of February 2017.
Besides, because of Brexit, the country may have a lower growth compared to the past years, with a loss of purchasing power for UK residents and a potential inflation rise. This phenomenon may have an impact on housing prices which may increase more slowly in London and which may favour foreign buyers.