A number of property investors with cash to spend are looking to increase their wealth by purchasing real estate
in the Asian property markets.
While a number of traditional locations around the world, such as London and New York, are expected to remain popular, many buyers are "starting to spread their wings" by looking at different areas, according to BuyAssociation.
"We have certainly seen quite a bit of growth in the far-eastern and Asian markets. There seems to be buyers with cash to spend and they are looking at their overseas property markets as being a good place to invest," Paul Collins, editor at the website, said.
Indeed, recent research from Knight Frank has revealed that almost 40 per cent of global luxury residential property markets
saw values climb during 2010, with six of the top ten biggest increases seen in Asia.
Overall, the property consultancy's research showed that luxury property price growth was highest in Shanghai with a 21 per cent rise. Also performing strongly were London and New York, with increases of ten per cent and 13 per cent respectively.
- Monday 11 April 2011