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Asian buyers take interest in London property market

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by Kay Mitchell

According to Knight Frank LLP, 59% of new-build property in London has been acquired by Asian buyers in the six month period to April.

This is up from 48% a year earlier as buyers seek alternatives from rocketing property prices in China and Singapore.

The estate agent said Asian buyers are taking advantage of the weakness of the pound after acquiring around £120 million worth of property in the capital.

Neil Batty, head of the Knight Frank IPM, said: “Asia is the fastest-growing region for cross-border sales of London property.”

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News posted: May 26, 2011

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