As the London property market continues to comfortably outperform the rest of the UK,
a growing number of wealthy overseas investors are purchasing real estate in the capital
, the Evening Standard reports.
The current weak price of sterling combined with ever-growing residential prices have made the sector an attractive proposition for Asian buyers, with more than half the homes in some Docklands developments are being bought by them.
Peter To, of estate agent City Quays, told the news provider: "We are seeing an unprecedented stampede by buyers from the Far East, especially mainland China, Hong Kong, Singapore and Malaysia, snapping up top end apartments in and around Docklands.
"And the investment from China so far is only the tip of the iceberg. It can only keep on growing as investors get to understand our market and mortgages more."
Recent research by Knight Frank suggests that Hong Kong investors are the most active in London at 24 per cent, followed by Singaporeans at 12 per cent and mainland Chinese taking ten per cent.
- Thursday 16 June 2011