Foreign buyers - Singaporeans in particular - are dramatically reshaping the UK capital’s market according to an article in the Financial Times. London's ongoing appeal as a safe cosmopolitan city, strong reputation for professional conveyancing and, more recently, the relative strength of the Singaporean dollar against the pound have enticed thousands of Singaporean investors, from the super rich to the middle class, to enter into London’s luxury property market in the past three years. Whether purchasing as a second home, rental investment or for children aspiring to study at London’s universities, property in London’s super prime areas is of particular appeal to Singaporean buyers and this increased demand together with a short supply has helped push up the average London house price by more than 11% in a year.
1st Asset has had recent notable success of selling to Asian investors and always welcome suitable stock. If you are currently selling or thinking of selling your London property, please do not hesitate to contact our sales team for an informal discussion.
If you are from Singapore and are looking to buy in London, 1st Asset has the expertise to help you successfully navigate the central and luxury London property markets, from finding the right property for the best price to guiding you through the buying process. We are also well positioned to ensure you receive the very best return on your investment and offer a comprehensive and professional lettings and resale service. Please do not hesitate to contact us for further information.
Source: Allen, K, and Grant, J 2014. Singapore buyers take a shine to London's prime property. Financial Times, 08 February. 2014. Print