More Foreign Money Coming In? Iran's About To Spend $8.5B On Global Property
On the heels of January’s easing of sanctions, wealthy Iranians are expect to spend $8.5B on foreign real estate over the next five to 10 years—underscoring strong faith in hard assets among global investors.
Due to a historical relationship with Great Britain, London real estate agency Rokstone says rich Iranians are likely to store their capital in properties in London, CNBC reports.
Dubai, Switzerland, Germany and the south of France are also in play. However, domestic gateway markets remain off the table—US sanctions relating to Iran’s human rights policies and alleged support for terrorism remain. [CNBC]