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Asian buyers ‘buying whole blocks’ in London

Posted by: In: Real Estate 23 Apr 2014 Comments: 0 Tags: ,
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Investors from Asia are buying whole blocks containing up to 10 properties in London to rent out or for family use and are increasingly looking at Outer London, says a development and investment company

Asian buyers in London are not only buying single properties, but whole blocks, says one leading development and investment company

Boutique London investment firm, Euroterra Capital, says Chinese buyers that usually invest in prime London property are also starting to target Greater London real estate investment.

Pantazis Therianos, Managing Director of Euroterra Capital, tells OPP Connect, “There is a trend appearing in property sales in London, with China replacing Greece as one of the ten largest groups of buyers in prime Central London. There has also been an increase in Asian buyers beginning to favour prime Outer London property investments, as the yields are becoming greater.”

It says investors are not just buying single properties. “The block was bought by a Hong Kong Buyer who spent approximately £2,000 per square foot for a conversion of six flats in W2, London.

“This isn’t an isolated incident. More and more clients are buying a whole block of between 6 and 10 properties, which have been converted to a high specification. They like …read more

Source: OPP

    

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