Russian investors buying up London properties | 1 February 2012
UK and Russian investors are snapping up prime central London property over their EU and Chinese rivals, report Property Wire.
According to figures from Hamptons International, the habits of far-eastern and European buyers are changing. The proportion of European Union buyers fell by 19 per cent through the year; while Chinese investors, who peaked at 13 per cent of all purchases in the second quarter, dropped to just two per cent in the last three months of 2011.
However, in terms of increases, UK buyers peaked – with a massive 44 per cent of all prime central London property in the third quarter.
In order to manage all this property, buyers may need to invest property management software in order to control their swelling portfolio – especially Middle Eastern buyers, who were the only nationality to increase quarter on quarter in 2011.
“The results of our nationality tracker are a fascinating insight into the confidence levels of international buyers,” claimed Adam Challis, head of research at Hamptons International; cited by opp.org.uk.
“As different regions around the world experience times of economic or political uncertainty, prime London residential property has offered more than just as a safe bet as price grew on average by 13 per cent last year alone.”
Written by Ashley Curtis 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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