Webinar Recording - What will 2023 mean for Luxury Property?

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Webinar Recording - What will 2023 mean for Luxury Property?

£35.00

2022 was a time of uncertainty and upheaval . With a challenging global situation, soaring costs of energy and resources, a shortage of skilled labour and the economic turbulence in Westminster, the prime property market and construction industry has faced enormous challenges. However despite the worsening economic outlook and rising interest rates, prime London’s property market finished 2022 with a flurry of deals. In the wake of the mini budget, the mortgage market is slowly recovering and already in 2023, prime property prices have remained strong. However, it may be a few months until the resilience of the market will be truly tested. The luxury property construction industry, however, has in no doubt taken a hit. In the wake of Brexit and the pandemic, employers are find it increasingly more difficult to find skilled labour (who will stick around) and as a result of the global situation, including the war in Ukraine, key supplies have dwindled and prices rocketed. Nevertheless, despite those difficulties a return to a more stable political and financial environment has led to a more positive outlook int eh luxury property industry. Pandemic trends such as the proximity to family, outside space and good work from home space is now ingrained into buyers and developers’ psyche and generally in the industry, there is a growing need to be more sustainable, innovative and unique.

In this webinar we evaluated 2023 from all angles. From investing in luxury properties to buying and selling them. From designing and building luxury developments to marketing them to those UHNWIs. We were also treated to a market update from Frances McDonald, Associate Director at Savills.

Chaired by Priya Rawal, Founder and CEO of The Luxury Property Forum.

Panellists:

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