Saturday, June 12, 2010

Foreign investors take a new interest in London property yet again

London is a melting pot of property opportunities and as we see the property market situation improve, more and more international investors are becoming increasingly interested in buying into London property yet again. London property has always been prone to foreign investment in the past, but many international investors took a backseat during the economic downturn and this resulted in the decrease of direct foreign investment as well as local property investment. But as we see the property market regain itself and return to 2007 prices, foreign investment individuals are once again taking an interest on what the lovely city of London has to offer in terms of residential and commercial property.
Private residential property has recently become fairly attractive to foreign investment individuals with foreign investment in London properties reaching an all time high in the property market.  The sudden surge in foreign investments are owing to the fact that individuals are taking advantage of the dwindling UK pound as well as wanting to hedge their assets against inflation. Property experts say that foreign investment numbers are once again high as nearly 70% of buyers are international or foreign investment individuals, some which are currently residing in London. With some individuals acquiring entire properties and others investing in a London property fund offered by various firms, it is no wonder that the property market is looking up in general.
London commercial property is also gaining momentum and therefore attracting foreign investment, with the most recent foreign investment interest being taken on a very expensive Knightsbridge Estate. According to property analysts, the Estate has been given a £540 bid by a foreign investment firm and Olayan Group, in collaboration with Chelsfield Partners are hoping that this bid will take the cake and result in the purchase of this prime central London property. Another property that is acquiring foreign investment interest is Tower 42, one of the largest skyscrapers in London that is currently on sale and hopes to be sold for a staggering 300 million pounds.
High value and extremely expensive properties are taking centre focus at present as wealthy individuals are doing better than they ever have before, including foreign investment individuals. Steel tycoon Lakshmi Mittal and Russian billionaire Roman Abramovich are seen as some of the foreign men in Britain and these individuals will also be looking at various property investment opportunities in the future.
These foreign investment moguls as well as other prominent individuals see the London property market as an appetizing investment and the amount of foreign investment in London property will only continue to rise.
(ArticlesBase SC #2235024)
Lauren Potgieter - About the Author: