Some 66 percent of new-build homes in London are being sold to buyers
from Southeast Asia – including from Thailand, according to information from the U.K.’s largest
real estate investment trust.
Land Securities Group revealed the
figures at a press conference in Singapore yesterday, and noted that
Singapore and Hong Kong buyers each accounted for one third of overseas
buyers in the U.K. new-build sector, while Malaysia and Thailand
combined with other Southeast Asian countries to make up another 33
percent of purchases.
Tom, Eshelby, Residential Director for the
London-based firm, added that two-thirds of new homes in London are
being sold prior to completion.
PropertyGuru Group believes
it’s likely that more Singaporean property investors are now opting to
buy overseas property than at home in the city-state, largely because
successive rounds of property cooling measures have made the local
market increasingly less attractive for local investors.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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