Wealthy Iranians, companies and state-backed buyers will spend up to £6 billion ($8.5 billion) on overseas real estate over the next five-to-10 years following the lifting of international sanctions, a report said on Wednesday.
High-net-worth Iranians are likely to look to buy properties in London, Dubai, Switzerland, Germany or the south of France, London estate agency, Rokstone, said.
Becky Fatemi, the agency's Iran-born managing director, said London would be the location of choice, due to historical ties between the two nations. She added that wealthy Iranians tended to invest in property, jewelry and gold.
"Britain was the colonial power in Iran and it was British firms that first exploited Iran's oil reserves. Between 1945 and 1979, the Shah of Iran, his royal court and the business elite had lots of ties with Britain and the elite-owned luxury residential property in London and the home counties," Fatemi said in a media release on Wednesday.
"Dubai on the doorstep will also be popular but it cannot compete with London's educational system or cool summer climate. The other historic ties are with Germany, Paris, the French Riviera and Switzerland, but London is safer than these since a lot of properties in the capital are in conservation areas where building alterations are restricted, so values hold and outperform continental Europe," she later added.