Foreign investors show confidence in UK property
According to a leading estate agent, foreign investors have shown their massive support for Britain’s economy – and its property – by investing a mind blowing £7bn in commercial property.
The estate agent revealed that they dealt with a lot of commercial property deals in and around London during the first half of 2017 and realised that 78% of buyers came from overseas.
Executives explained that, while Brexit made the country’s future slightly less certain, the UK is still seen as a secure place to store your money.
One of the biggest successes included the sale of one of London’s most famous buildings, the “Cheesegrater”, which went for £1.2bn to a firm based in Hong Kong.
In London’s West End and St James’s Square alone there were ten deals worth £100m or more. Chinese investors bought three properties worth £523 in the capital single handedly.
The estate agent also explained that the company’s biggest growth came – somewhat unsurprisingly – from Asia, as revenue from there climbed up by 26%, to £263.5m.
The only region that beats Asia in sales is the UK itself, as the agent saw a revenue of £274.2m from investments coming from their home country.
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