London Estate Agents Hastings International comment on the numbers of overseas investors taking interest to London property.
(1888PressRelease) June 14, 2011 - The flourishing London property market is being lead by overseas buyers keen to take advantage of excellent market conditions. Estate agents and property brokers are consistently reporting a flood of new investment from around the world. In particular, online magazine Property Week has reported extremely high competition for central property in London. The property industry barometer claims the stampede is being driven by investors from the Asia-Pacific regions.
Reports are emerging from estate agents right across the London property scene that London pricing benefitted from the phenomena throughout the first quarter of the year. The UK property market is currently the most economically active of all those throughout not only Europe but also the entire Middle East and Africa. Central London property is being hotly chased by overseas investors, and as noted, particularly buyers from Asia. As a result, pricing in some areas has been climbing even higher than the peak seen in mid-2007. Some estate agents are reporting that prices achieved have been as much as 20% higher.
"There is no doubt that London property is a good buy for international investors right now. Sterling is relatively weak, interest rates are unusually low and the demand for rental in the capital means that most landlords are expecting to comfortably increase rents this year," said a spokesman from London estate agents Hastings International.
Estate agents report that Asian buyers are accounting for over half of all new build sales in central areas. Singaporean and Chinese and Malaysian buyers currently benefit from a stronger exchange rate for their respective currencies than for many years before. London property is perceived to offer a stable investment in the longer term. It offers a robust legal framework for buyers without the history of sudden dramatic changes to property legislation that have dogged other locations. Global events such as recent social unrest and natural disasters elsewhere have also re-affirmed it's status. There is also a market for higher value properties among these new investors.
"Rotherhithe property ticks all the boxes for these buyers, but it is more keenly priced than many other central areas. It's within a very short commute of the city and all the major transport hubs. But unlike other inner city areas, renters are attracted by the tranquillity and lifestyle it offers as a genuine city riverside retreat. We're also predicting continued interest in new build property in Borough. Again, the combination of excellent transport and highly desirable amenities is perfect for buy to let landlords. In both areas, generally we are seeing a lot of interest in properties at the luxury end of the market".
Both property prices and rents are predicted to continue to rise throughout 2011 into 2012. Property experts point to an imbalance in supply and demand, with too few homes being chased by too few buyers. The picture remains the same for London's rental scene. International workers have not lost their drive to come to the capital and its still ranked as the world's number one financial centre.
Hastings International selection of Borough and Rotherhithe property to buy and let can be viewed on their interactive website at:
London Estate Agents Hastings International comment on the numbers of overseas investors taking interest to London property. 
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