International Investors Snapped Up Central London Property In 2012 – Knight Frank

Sally Ling

16 January 2013

Overseas buyers purchased central London new-build property with a value of £2.2 billion in 2012. According to the recentInternational Residential Investment in London report from global property firmKnight Frank, this was up 22 per cent on 2011.

A total of 52 nationalities bought new-build property in central London last year. The most active overseas buyers being from Singapore , Hong Kong and China , Malaysia and Russia . However, UK buyers remain in the majority, with a 27 per cent market share.

Knight Frank says that expects the core overseas markets to retain their appetite to buy in central London. It also forecasts increased investment activity from China, particularly if restrictions on overseas capital transfer are eased. Turkey will continue to be a key buyer market: its economy has outperformed crisis-hit western Europe and many of its citizens have links with the UK. Indonesia is also a country to watch.

“Overseas investors … are attracted to London due to advantageous currency values, the opportunity to invest in a tangible asset with the prospect of long-term strong capital appreciation, and the recognition that London continues to offer world-leading educational and cultural facilities,” Neil Batty, head of international project marketing at Knight Frank, said in a statement.