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Ultra-rich Democrats race to buy London bunkers after Trump win
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Ultra-rich Democrats race to buy London bunkers after Trump win

Wealthy Democrats are racing to close multimillion-pound bunkers in London after Donald Trump won the US election.

Mr Trump’s election victory this week has attracted interest from ultra-rich Americans looking to buy prime properties in the UK as a “safety net” as they disagree with the president-elect’s rhetoric, buying agents report.

Becky Fatemi, managing partner of Sotheby’s International Realty, said she received five calls from wealthy people in two days. Americans who want to act in immediate response to US election results.

“People say: ‘He’s here and he’s here for the next four years and I don’t want to be, so these are the dates we’re going to fly through.’ “All five of these people will arrive here within the next week,” Fatemi said.

For example, Fatemi is working with a family who arrived from the US on Thursday, just a day after the election results were announced, and were staying in Airbnb and looking for a rental property with a budget of up to £70,000 per person. month. Parents are also looking for schools to start in January for their three children.

Ms Fatemi said requests to her team from American buyers coming to the UK had increased by 30 per cent year-on-year in the last two months.

London ‘safe haven’

Marco Previero, director of R3Location, a moving company, said wealthy Americans see London as a safe haven “more aligned with Democratic values” because of its Labor government.

Mr Previero said: “London has always been seen as a safe haven, but that’s even more so now with a more stable government that leans left.”

Mr. Previero said R3’s demand from Americans to buy in London has doubled in the past two months because they want a “safety net” from Trump’s presidency.

So R3 has 20 clients inquiring about its services, each spending between £2 million and £20 million on second homes.

Mr. Previero said: “They see Trump as an aberration. The writing was on the wall. “Now they will press the button,” he said.

Will Watson, chief executive of The Buying Solution, a buying agency, said he had worked with five separate families, each looking to buy a house worth more than £10 million in London, due to the political situation in the US, and initially made a further six enquiries. stages.

Mr Watson said: “Trump is the final straw. Americans say, ‘You know what? “I couldn’t live under one more of his conditions.”

“They worry about what Trump might do economically that could affect their business because he is so unpredictable.”

Ms Fatemi said demand for very high-end rental properties was particularly strong as customers wanted to move quickly and foreigners buying expensive properties had very high stamp duty bills.

Chancellor Rachel Reeves’ decision to add 2 extra stamp duty surcharges for additional houses In his first Budget it means the tax bill for a foreigner buying a £10m second home is now more than £1.8m.

Ms Reeves plans to scrap favorable tax regime rich “non-doms” Ms Fatemi added that this was also pushing carriers towards the charter market, but not enough to push them away from the UK entirely.