London dominates overseas buyers market
London dominates the overseas buyer market with more than 40% of the total investment from companies based abroad, according to new figures.
Research by Benham and Reeves covering England and Wales, reveals the Capital’s position accounting for 43% of all property titles owned by foreign companies.
Most prominent
There are currently 91,136 properties registered with overseas companies, with 88,933, or 97.6%, located in England.
Of the total number of titles owned by businesses based in other countries, 39,172 are located within Greater London.
It makes London by far the most prominent region for overseas company property ownership, with more than two and a half times as many titles as the South East, where 14,919 account for 16.4% of the total.
Destination of choice
Marc von Grundherr, Director at Benham and Reeves (pictured), says: “London’s position as a destination of choice for high-net-worth international buyers has been built over decades and isn’t dictated by the recent period of house price stagnation.
“Of course, this particular data relates specifically to property owned through overseas-registered companies rather than individual foreign ownership, but the sheer concentration within London is another indication of the international appeal that continues to underpin the Capital’s property market both on personal and professional levels.”
Attractive opportunity
He adds: “London may have experienced a more subdued period with respect to house price performance, but international buyers tend to look beyond short-term fluctuations.
“For those taking a long-term view, softer market conditions can actually provide an attractive opportunity to establish or increase their position within one of the world’s most established property markets.”
The post London dominates overseas buyers market appeared first on The Negotiator.
Author: Gemma
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