International property investors
have bought more than �800 million worth of London real estate sold at exhibitions in Singapore, Kuala Lumpur and Hong Kong in 2010, it has been revealed.
Data released by CB Richard Ellis (CBRE) has highlighted the proliferation of Asian buyers that are now active in the market, Overseas Property Professional reported.
In fact, Jennet Siebrits, head of residential research UK at CBRE, has estimated that between five per cent and ten per cent of the buyers involved were Chinese, adding that their influence will grow as Asian purchasers cash in on opportunities.
"[Investors] seek to cash in on long term capital growth as well as rising rental returns. Most investors are looking in established markets, such as Canary Wharf and the City, as well as regeneration areas where transport links are improving," she noted.
Meanwhile, according to the London Central Portfolio, a growing number of property speculators are looking at property in prime spots.
- Saturday 26 February 2011