Middle Eastern buyers heading to London | 9 June 2011
Middle Eastern buyers looking for commercial property opportunities are increasingly turning to London for their next investment.
According to Property Wire, these buyers are heading to areas such as Hyde Park, Bayswater, Regent’s Park and Marylebone – typically upmarket areas.
A commercial property expert, Martin Bikhit, spoke out to explain the sudden rise in popularity. He claimed: “We are seeing the prime markets being boosted by strong overall demand.”
“Over the last few months, the number of Middle Eastern buyers has significantly increased following the Egyptian crisis and the subsequent wider unrest in the region,” he continued.
“We have seen the proportion of Middle Eastern applicants double compared with the same time last year to 30 per cent in the first quarter of 2011,” Bikhit revealed, which may mean more buyers take on property management software to effectively manage their new investment.
He also added that the “good performance” of the British economy was helping to market the nation as a hot spot for property investors; and called the capital a “safe haven for international wealth”, given the political unrest in the Middle East.
Furthermore, these investors typically look for properties worth over £5 million which are very secure, Ipin Global confirmed – something which isn’t uncommon within the areas they’re targeting in and around the inner City.
Written by Deborah Bates on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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