Asian investors bolster London’s property market

Sara Scott | Dec 27, 2012 | Comments 0

According to recent data from real estate advisory group Cushman Wakefield, sales of offices, shops and hotels in London rose 25 percent on 2011, up to £13.6 billion (US$22 billion), bringing property transactions in London to its highest level since the start of the financial crisis in 2007. Foreign investment accounted for three-quarters of purchases.

According to a Financial Times article, Asian investors were responsible for the majority of acquisitions in London's property market, 45 percent of all deals completed during 2012. Malaysian government-backed funds have been investing heavily in the UK capital with a £400 million (US$6.5 million) deal to buy Battersea Power Station in September, many City of London offices and are rumoured to be among bidders for Blackstone's £800 million (US$13 million) office campus in Chiswick Park, said the article.

Steady investment in City, West End and Canary Wharf was observed from Asian sovereign wealth funds such as Korea, Singapore and Indonesia, reported the article.

Meanwhile, according to property consultancy Jones Lang LaSalle, London's commercial property market is larger than any single country in Europe, offering international  investors plenty of prospects for future growth.

Filed Under: Malaysia • News • Singapore • South Korea

Tags: Asia (General) • asian investment in london. asian investors • Battersea Power Station • blackstone • Canary Wharf • chiswick park • city • city of london • Cushman Wakefield • eurpoe • financial crisis • financial times • foreign • future growth • government-backed funds • growth • Indonesia • international investors • jones lang lasalle • korea • London • london's property market • Malaysia • malaysian • Singapore • sovereign wealth funds • transactions • west end

Article source: http://www.thethailandlinks.com/2013/01/01/asian-investors-bolster-londons-property-market/