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London "a safe haven" for international residential property investors
Foreign buyers looking to invest in residential property may find the London housing market has plenty to offer.
According to Ed Mead, director at Douglas and Gordon, the city has always been classed as a "safe haven" for those who want to make a purchase.
"It is the first place [international buyers] think of in the world for going to buy a property," he states.
Savills recently reported during the seven months to the end of July, a total of £1.6 billion worth of £5 million-plus properties were sold in London.
And the sales value for the second quarter of 2010 stood at almost £850 million - the second-highest three-month period recorded.
Mr Mead said a lot of the foreign interest can be attributed to the currency fluctuations, with poor sterling rates meaning European investors came to the UK to purchase property.
Prior to this point, the £5 million housing market was "languishing", he added.
Posted by Suzannah Taylor
According to Ed Mead, director at Douglas and Gordon, the city has always been classed as a "safe haven" for those who want to make a purchase.
"It is the first place [international buyers] think of in the world for going to buy a property," he states.
Savills recently reported during the seven months to the end of July, a total of £1.6 billion worth of £5 million-plus properties were sold in London.
And the sales value for the second quarter of 2010 stood at almost £850 million - the second-highest three-month period recorded.
Mr Mead said a lot of the foreign interest can be attributed to the currency fluctuations, with poor sterling rates meaning European investors came to the UK to purchase property.
Prior to this point, the £5 million housing market was "languishing", he added.
Posted by Suzannah Taylor
Thu, 19th Aug 2010