Written on 13 June 2013 by Alistair Boscawen in London, Property News
Some of London's most exclusive areas are holding their appeal with input from international buyers.
It’s been well reported that much of the current buoyancy of the London property market is due to investment from overseas buyers. You only have to look at Battersea Power Station for proof – all 866 properties were snapped up by one Asian investor – in recognition of the investment potential of what has become one of the city’s fastest selling development ever.
But this interest doesn’t rest with Battersea – foreign investment from cash-rich celebrities and oligarchs and other investors has seen properties in some of London’s most exclusive areas sold to international buyers.
Billionaire’s Row is another fine example, providing residences for some of the world’s most wealthy people and embassies to whole countries.
Most recently, as reported in this article by London Loves Business, the Abu Dhabi royal family is poised to buy the exclusive Bupa hospital in Cromwell Road, Kensington. And the German Conley family recently snapped up Kensington Roof Gardens for a staggering – but unsurprising – £225m.
Continued investment in the city’s property market – whether from UK investors or those from overseas – is great news for our economy and helps keep exclusive areas exactly that. Property sales – especially in affluent areas – are helping to fuel the market recovery and that’s good news for the industry generally.
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