Arab Today, arab today boom for homes in london driven by middle east buyers
Last Updated : GMT 23:48:20
Arab Today, arab today
Arab Today, arab today

Boom for homes in London driven by Middle East buyers

Arab Today, arab today

Arab Today, arab today Boom for homes in London driven by Middle East buyers

London - Arabstoday

The cost of London\'s most expensive properties rose the most in nine months as Middle East investors helped to push up prices. Homes costing an average of £3.7 million (Dh22.1m) rose 10.5 per cent in the past 12 months, according to a report released yesterday by Knight Frank. The boom is being fuelled by foreign buyers, who are taking advantage of the weak pound to snap up property in prime areas of London. \"Overseas buyers have been crucial in the market, even at today\'s price,\" said Grainne Gilmore, the head of UK residential research at Knight Frank. \"If we have got a denomination that\'s linked to the dollar, you\'re still looking at 20 per cent discount compared to 2008.\" Another factor driving up prices is the small supply chain, said Jonathan Hewlett, of Savills, the upmarket property agent. \"With international purchasers, what we are finding is that only about a third of them will resell.\"Mr Hewlett said Middle East buyers were still key players in London\'s prime property market, but Russians and the former Soviet states were \"probably\" the biggest. Buyers from the Middle East and North Africa (Mena) were particularly important to the prime central London market during the downturn in 2008 and 2009, according to a report released last month by Savills. They bought 13 per cent of the properties during that time, but retreated as prices began rising, forming just 7 per cent of the market last year. However, the Arab Spring spurred a second influx. Investors from the Mena region now make up 9 per cent of the market, and there are reports of \"much greater numbers searching for property\", Savills said. Chinese investors bought just under 2 per cent of prime property by value last year, but 13 per cent of all used property by value in the Docklands area. Buyers from India and Pakistan constitute 9 per cent of the top end of the property market, with Russia and the former Soviet republics accounting for 13 per cent. From / The National

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today boom for homes in london driven by middle east buyers Arab Today, arab today boom for homes in london driven by middle east buyers

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday