Overseas investors continue to have confidence in London
In spite of Brexit negotiations, foreign investors continue to signal confidence in the property market in the United Kingdom and London, diversifying their purchases.
A weaker British pound has led many investors to set their sights on billions in properties in London alone, as residences and office towers are taken over by investors from around the world, from the Middle East to North America.
According to a report in Arabian Business, the value of housing in the UK has reached over £7.29 trillion in the last year.
The availability of housing stock in London has dropped by 1.5 per cent. However, the British capital makes up almost 25 percent of the entire country’s housing value and market at £1.77 trillion, up by five per cent over 10 years.
From the Middle East alone, investments of over £1.38 billion were expected to have been poured into London by the end of December 2018, a 30 percent rise over the previous year.
Citizens of East Asian nations such as China, Singapore and Malaysia continue to invest heavily in the British capital as well, with Malaysia’s government-backed investors, like pension funds, fueling major developments like the multi-phase Battersea Power Station.
For many, despite the political maneuvering, London’s status as a mature market will be able to weather any storm. Those who have invested in the UK from overseas for years have signalled that they will continue to do so in the long-term.
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