London agents Benham & Reeves, just back from the Far East where they have been holding property investment roadshows, report that international appetite to invest in London property is stronger than ever.
Anita Mehra, managing director of the lettings firm, said: “We hold regular investment seminars in the Far East, but this has been our busiest trip ever with over 100 investors, mainly doctors, lawyers and other professionals, attending.
“Compared to other major international cities, London is still a relatively affordable place to buy property, thanks in part to the weakness of the pound.
“Far East investors recognise prime London’s outstanding potential for letting, and many of the professionals we meet already own around six or seven London residential properties.”
She said that Singaporeans are showing the greatest interest, buoyed by the weakness of sterling making London property around 30% cheaper for them than five years ago.
Most of the purchasers, said the firm, are interested in buying in their own names and at under the £2m mark, making them exempt from the new tax regime announced in this week’s Finance Bill.
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