The Chief Executive of a London asset management company suggests that the demand from overseas investors for property in London continues to be high. Naomi Heaton of London Central Portfolio thinks that foreign investors are still and will always be interested in the capital’s property market.
Wealthy investors looking to invest in the U.K property market gives a strong indication that the market is still strong, Heaton suggests. London remains the prime location in the U.K for foreign investment.
Why London?
Heaton is of the opinion that the U.K and particularly London is seen as a safety nest for foreign investors’ cash. Ms Heaton thinks that this is due to the fact that the U.K property market is not embroiled in the Eurozone crisis, nor caught in any other property market struggles.
Ms Heaton proclaims that, ‘London Central is increasingly seen as a safe haven market which offers capital preservation with long-term upside potential. Additional benefits are the continuing weakness of sterling in relation to other major currencies, particularly the Chinese Renminbi and the low rate of interest costs in the UK.’[1]
London Boom
The increase of residential values across London in 2011 is expected to be confirmed statistically in due course. This upward trend in value is expected to continue in 2012, with other regions remaining behind London.
[1] http://www.justlandlords.co.uk/news/Overseas-Investors-Continue-to-Buy-in-London-1080.html