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Property investors look from Bahrain to Britain

Monday, 4 April 2011 2:53 PM

Troubled times in the Middle East have shifted investors' focus back onto Britain, as the market for prime properties in central London has benefited from turbulence in international trade.

W A Ellis, an estate agent based in the capital, says investors in Bahrain in particular looked to London in March, with a 211 per cent increase in enquiries from the Middle Eastern country compared to the previous month.

The prime market is also approaching a watershed moment, as stamp duty on properties valued in excess of £1 million is due to increase by one per cent from tomorrow (April 5th).

"Spring has effectively come early, with purchasers rushing to conclude transactions prior to the April 5th deadline," said W A Ellis residential sales partner Richard Barber.

Bahrain remains subject to special advice from the Foreign & Commonwealth Office, which recommends Britons only travel there if essential.

Those who do head to the country are currently being told to keep a high degree of security in place and to avoid being caught up in any public demonstrations.

Meanwhile, with the new stamp duty threshold to come into effect this week, it remains to be seen whether the international events can maintain the focus on London in the light of higher duty charges.

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