Overseas Property Investors Targeting UK Property Bargains
Overseas Property Investors Know A Bargain When They See One!
There has been a great deal of debate about the impact of overseas property investors and foreign nationals purchasing property within the city of London, driving up property prices and giving the UK housing market a boost.
Foreign property investors purchased up 75% of new residential property developments within the central London area during the last 12 months, although many developers argue that many of these residential properties would not have been built without the up-front cash from overseas property investors.
According to data from Knight Frank, foreign property investors also purchased 49% of all properties valued over £1 Million (GBP) in central London during the same timeframe, and new residential properties accounted for just 20% of these property transactions.
The 10 most expensive post codes in central London are SW1, SW3, SW5, SW7, SW10, W1, W8, W11, WC2 and NW1 had 3,477 residential properties for sale.
70% of these properties were valued over £1 Million (GBP)
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Weak Economy Gives
International Property Investors Green Light
The surge in Central London property values has failed to deter overseas property buyers who are still actively purchasing available residential accommodation.
Ironically it is the weakness of Sterling (GBP) that has made residential property in the UK capital attractive to international property investors, helping to fuel strong demand for residential property in London from foreign investors, according to one residential estate agent.
As we previously reported in February international property investors are already targeting high rental yields from rental properties in the UK (read full story here)
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