London Property Continues to attract Overseas Buyers

As the London property market continues to impress, it is no surprise to learn that there has been a significant increase in the number of buyers originating from the Middle East, Russia, France and Italy....

As the London property market continues to impress, it is no surprise to learn that there has been a significant increase in the number of buyers originating from the Middle East, Russia, France and Italy.

In spite of the tight lending criteria imposed by banks, the strength of the sector has resulted in an increasing number of investors showing high levels of interest in properties with development potential and the possibility to maximise square footage, the latest real estate market comment from W A Ellis has revealed.

Over the last six months, prime properties within noteworthy addresses in Knightsbridge, Belgravia and Chelsea have seen price per sq ft increases of around 20 per cent.

"Stock levels in London have increased marginally since this time last year when they were at an all time low. The sharp rate of increase on renewals has slowed down as the main adjustment in rents occurred during 2009 and 2010 when prices picked up after the credit crunch," Lucy Morton, senior partner and head of lettings at the firm.

Meanwhile, Knight Frank's Prime Central London Index revealed that there has been a 33 per cent increase in property values since March 2009.

- Friday 03 June 2011

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