Ma­jor­ity of buy­ers from overseas

Yorkshire Post - Property - - PROPERTY -

BRI­TISH buy­ers are pur­chas­ing only just over a quar­ter of new­builds in Lon­don, with most go­ing to overseas in­vestors look­ing to take ad­van­tage of the cap­i­tal’s sta­tus and sta­bil­ity.

Knight Frank say UK pur­chasers have a 27 per cent mar­ket share. A to­tal of 52 na­tion­al­i­ties bought last year, led by buy­ers from Sin­ga­pore (22 per cent), Hong Kong (16 per cent), China (five per cent), Malaysia (four per cent) and Rus­sia (three per cent).

Al­to­gether, for­eign buy­ers bought homes in cen­tral Lon­don with a value of £2.2bn, up 22 per cent from the £1.8bn they spent in 2011. Of those buy­ing last year, one third did so to pro­vide their stu­dent chil­dren with a base in the city, which at­tracts a large num­ber of overseas stu­dents.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.