New build property in London is proving to be a big attraction for foreign real estate investors with demand increasing from Asia and the Middle East, according to property firm Cluttons.
Read full article from Property Wire – 03 June 2013
Edward Corry-Reid, Associate Director, Aylesford International comments
Middle Eastern and Asian buyers have always favoured new build apartments with, where possible, lateral space, security and parking. Given the transient nature of many in this demographic, such properties are particularly appealing as they’re low maintenance and are the ideal lock up and go. They also tend to let well and so are considered to be sensible investments.
The idea of lateral living in modern purpose built blocks is a relatively recent development here, and in this regard London has been playing catch up to other major global cities such as New York and Hong Kong where this style of living had already been well established. This is perhaps one of the reasons that many of these blocks in prime postcodes do so well on price, particularly in prime locations, as there is still a limited supply of units relative to demand.