Asians Snapping Up London Properties

This just in from London:   Asian investors are purchasing central London property in unprecedented numbers and now account for 20 percent of all new build sales, a new report concludes...

“While the market has returned to life, after it pretty much shut-down in 2008, current international investment demand is almost totally concentrated on London and is primarily coming from Asia,” said Knight Frank residential research director Liam Bailey.

Of the investor buyers last year, 49 percent were Asian, with Chinese and Hong Kong investors represented the largest group, 11 percent, followed by 10 percent from Singapore. Despite tales of free-spending sheiks and Russian oligarchs, only 3.5 percent of the buyers last year were from the Middle East; 3.1 percent were from Russia.

Source: International Property Journal