A recent report on property in London has revealed that large numbers of Singapore investors are now buying properties in London – more than from the traditional property heavyweight Hong Kong.
Asian buyers account for 40% of the London property market, with the majority from Singapore. As optimism grows over the economy, cities such as London and New York are seeing ever-increasing interest in the prime property sector.
High-net-worth individuals from Singapore have shown particular interest in London properties worth 2 million to 3 million pounds, with depreciation of the sterling making the UK market in general very attractive.
Inessa Falina, who runs the Property Services division in Oracle Capital Group, remains confident in an average increase in property prices in Central London of 30% over the next 4-5 years.
“Our clients are primarily interested in the most sought-after properties located in the very prestigious areas and streets of the British capital,” said Inessa. “Of course, such properties are generally sold off-market and are not mentioned on any Internet resources or offered by real estate offices. So it pays to be in the know”.
