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avigating Real Estate Law with Tatiana Svetlova: Insights and Trends
In the ever-changing landscape of real estate law, professionals face unique challenges and opportunities across residential and commercial sectors. Tatiana Svetlova, founder and managing partner at Svetlova LLP, shares her expertise on navigating this complex environment.
Tatiana's Journey into Real Estate Law
Tatiana initially studied music but switched to law after meeting a trainee solicitor. She qualified as a lawyer and began working in the property department of Radcliffes, where she was drawn to the world of property due to its fascinating intricacies. Her experience at Radcliffes instilled in her a focus on building relationships and respect.
Challenges Faced by Clients
Tatiana's clients, including family offices, private companies, and entrepreneurs, face challenges such as the UK's high tax rates and concerns about additional tax hikes. The abolishing of non-dom status poses a risk to the UK losing £8.4 billion in contributions and £150 million in fees.
Key Factors for Successful Partnerships
Tatiana emphasizes that joint ventures succeed when there is a balanced pool of competencies, mutual trust, and aligned interests. Conducting due diligence on potential JV partners is crucial, particularly if they have prior relationships or unequal resources.
Deal-Making Strategies
Tatiana approaches deal-making by connecting people and taking the time to speak with clients in a non-transactional setting. Human relationships are key to making deals happen.
Current Trends in London's Real Estate Market
House prices have soared in the UK, but mortgage rates are rising, putting downward pressure on house prices. The market is saturated, leading to pricing corrections. Younger generations prefer renting over owning, even when they can afford to buy.
Technology's Role in Real Estate Law
Tatiana notes that technology has unburdened legal practice with efficient processes such as automation of land registration and electronic contract signing. However, she believes we are still in the early stages of technological developments in real estate law.
Future Opportunities and Challenges
Tatiana foresees opportunities for good properties bought at the right price to perform well in any economic climate. She also sees challenges for families with Russian heritage who face discrimination from professional service providers due to complex legislation. Tatiana's firm helps individuals navigate these issues and advocates for changes in the law.
About Tatiana Svetlova
Tatiana founded Svetlova LLP in 2009 and provides advice on residential and commercial real estate, investment, and joint ventures. She is highly regarded by clients for her expertise and ability to facilitate introductions and create deals.
