Wealthy Democrats have begun purchasing luxury homes in London to escape the United States after Donald Trump’s landslide election victory.
Buyer agents have noted a surge in interest from wealthy Americans wanting to buy property in London as a “safety net” for Trump’s return to the White House.
In just two days, Becky Fatemi, managing partner at Sotheby’s International Realty, said she received five calls from Americans who wanted to move after the election.
“There are people who say, ‘He is here and he will be here for the next four years, and I don’t want to be, so these are the dates we are flying over.’ Those five will come here next week,” Ms. Fatemi told the Telegraph the weekend.
Marco Previero, director of moving company R3Location, said London is a desired location for wealthy Democrats because they feel it is “more aligned with Democratic values” due to the left-leaning Labor government.
Wealthy Democrats have begun purchasing luxury homes in London to escape the United States after Donald Trump’s landslide election victory.
In just two days, Becky Fatemi (pictured), managing partner at Sotheby’s International Realty, said she received five calls from Americans who wanted to move after the election.
According to Previero, this was turning London into a “safe haven” for those dissatisfied with Trump’s election victory.
He added that R3 has received twice as many applications from Americans looking to buy in London in the last two months because they are looking for a “safety net” from a Trump presidency.
According to Previero, 20 clients, each spending between £2 million and £20 million ($2.5 million to $25 million) on their second homes, have already inquired about R3’s services.
Fatemi also said his team received 30 per cent more inquiries from US buyers hoping to purchase a property in the UK in the last two months compared to the same period in 2023.
He said an American family landed in the UK on Thursday, just a day after the election results were announced.
The family is staying in an Airbnb while they look for a property to rent – with a big budget of £70,000 ($90,000) – as well as schools for their three children starting in January.
Luxury rental properties are in particularly high demand because clients want to cross the pond quickly and avoid the huge stamp duty bills that hit foreigners after purchasing expensive properties, Fatemi said.
Under Chancellor Rachel Reeves’ Budget, which added an extra 2% to the stamp duty surcharge for additional homes, a foreigner buying a second home valued at £10 million ($13 million) could be hit with a tax bill of more than £1.8 million (USD 2.3 million).
Will Watson, who runs buying agency The Buying Solution, said he is currently working with five different American families hoping to escape the political situation in America by looking for a new home in London worth more than £10 million.
Marco Previero (pictured), director of moving company R3Location, said London is a desired location for wealthy Democrats because they feel it is “more aligned with Democratic values” due to the left-wing Labor government.
Previero added that R3 has received twice as many applications from Americans looking to buy in London in the last two months because they are looking for a “safety net” from a Trump presidency.
He added that he also received six other inquiries from other families.
Watson told the Telegraph: “Trump is the straw that breaks the camel’s back.” Americans say, “You know what? I just couldn’t live under any other of your terms.”
This comes after a string of American celebrities vowed they would leave the United States if Trump won. Many stars have already swapped the United States for the United Kingdom in recent months for fear of the political landscape, abortion rights and gun violence.
Actress Minnie Driver, 54, told The Times of London in July that she had returned to the UK after almost three decades of living in Los Angeles.
And at that time, he revealed that if Trump were re-elected, it would be difficult for him to return to the United States.
“If I lived in a red (Republican) state, no, I couldn’t (return),” he said. ‘But living in California, you’re kind of isolated.
‘But do you want to go live in a bubble? Do you run away from the fire or come back and help?
British star Sophie Turner, 28, told Harper’s Bazaar last month that she realized she had to “get the hell out” of the United States because of gun violence and the overturning of Roe v Wade.
The Game of Thrones alum had been living in the United States with Joe Jonas and their two children Willa and Delphine. She returned to her native UK following their bitter split last year.
Others, like Ryan Gosling and Eva Mendes, have stepped down in recent months for the sake of their children, while others, like Hugh Jackman and Renée Zellweger, are considering a relocation.