[caption id="attachment_1694" align="alignright" width="300"] Lifting of Iranian sanctions will allow Iranians invest more[/caption]
This year, as international sanctions against Iran have been lifted, Iranian investors have taken a keen interest in the property markets in foreign cities. London, in particular, could see an investment of over ₤1 billion.
A well-established real estate agency in London, Rockstone, is expecting to see wealthy Iranians investing in not only London but the big cities in Germany and Switzerland, as well as a considerable amount of investment along the French Riviera. Investments in these countries are expected to reach up to ₤1 billion.
The sanctions in previous years did not allow for any foreign investment in Iran, nor any Iranian investments outside of its borders.
Wealthy Iranians have a history of flocking to London and Becky Fatemi, Rockstone's Iranian Managing Director, states that this trend is soon to continue as it did in previous years. She hopes that London will receive a significant investment from Iranians, as much as 20%.
Fatemi states that "London will be the Iranian's top location for investing in real estate." Wealthy Iranians tend to invest in both property and jewelry, which they regard as solid long-term assets.
As Britain was at one stage a "colonial power" in Iran, there are relevant historical ties between the two countries. Not only did British firms take an interest in Iran's oil reserves, but Reza Shah and his royal court had several business ties with London, as did several wealthy Iranians of that era, who owned luxurious estates in London.
Rockstone is anticipating that at least 25% more Iranians will invest in London within the next couple of years. Once the sanctions against Iran were lifted, we were once again, able to re-enter the global economy. This has been described by Morgan Stanley as "the biggest thing for the global economy since the fall of the Berlin Wall and has led to many foreign investors taking an interest in Iran.
[caption id="attachment_1695" align="alignleft" width="300"] British Airayas re-opens flights to Tehran[/caption]
Iranians should also be able to invest in London and visit more frequently as direct flights from Tehran to London are re-introduced.
Iranians will be among the many wealthy investors from Middle Eastern countries, who have invested in London and Europe. The state of Qatar already owns a significant portion of the Shard, which stands as Europe's tallest building. Even the Qatari royal family have invested in Europe.
European summers see many wealthy "Arab playboys" coming to its cities sporting flashy cars and splashing out in expensive department stores, perhaps the Iranians will join them soon, as they come and invest and enjoy the European lifestyle.