June 30, 2011 1 Comment
Overseas property investment in the Greater London area will at current rates ensure that by the middle of next century, all residential properties in Greater London will be owned by foreigners, stated Savills.
Foreigners are accountable for 34% of all London property dealings. The majority of London property investment is centered at the higher end of the market in areas such as Notting Hill,Chelsea, Mayfair and Kensington. In the preceding financial year, foreign buyers exchanged funds worth £5 million in value accounting to 65% of all funds traded.
The concentration of capital injections has somewhat varied in the past years due to investment being focused in the prime property locations ‘It is as if the equity is getting stuck in prime south-west London; of the £3.3 billion into prime London, only £0.5 billion left via the large south-west markets in 2010,’ head of research, Yolande Barnes. Read more of this post