Showing posts with label Prime London still appeals to Asian buyers. Show all posts
Showing posts with label Prime London still appeals to Asian buyers. Show all posts

Thursday, 16 December 2010

Naked in KnightsbridgePrime London still appeals to Asian buyers Easier: "Despite the recession, the social and economic stability of the UK means that property in prime London areas, such as Knightsbridge, Mayfair and Kensington has retained its appeal for international buyers particularly those from Asia.
In the year from March 2009 to March 2010 London saw a 120 per cent increase in demand for UK property from Asian buyers (from Singapore, Hong Kong, Malaysia and mainland China) who were responsible for 45.6 per cent of new-build purchases in central London.
Harrods Estates, the luxury property division of the Harrods Group, has seen increasing interest from Asian buyers, who now account for 38 per cent of their purchasers, compared with only 7 per cent in 2008.
Shirley Humphrey, Sales and Marketing Director at Harrods Estates comments: “We have seen a shift in international interest in the last two years. “The weak British pound and low interest rates all contribute to the appeal of investing in London property, and an increase in the level of prime new development London stock available, means there is more choice on the market.”
Another factor could be the increased numbers of Asian students studying in the UK. Over the last decade the number of Asian students studying in UK universities rose by 175 per cent with numbers of mainland Chinese students rising particularly steeply from just over 4,000 in 1999 to over 47,000 in 2009. Shirley comments:"

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