Super power property buyers
Asia bucks the trend - London Land and New Homes reports - 30th August 2013
According to new figures Asian and Middle Eastern money accounted for 82 per cent of commercial transactions in London in the first half of the year. Asian investors from Singapore, Hong Kong, Malaysia and China, accounted for more than half of the total UK purchases.
From statistics London Land and New Homes have seen and trends in the last twelve months, Malaysia aims to be a “major player” in the London property market. Reports show that spending by Asian investors grew rapidly during the last three months to the end of June 2013, with the region responsible for over £1.04 billion purchase transactions during the first quarter, up 166 per cent on the previous three months.
London Land and New Homes owner stated that this looks to be an exciting time with many new developments coming online over the coming months. Malaysia looks to be the next super property purchasing power.