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Foreign property owners continue to relish the prime London market
19 Jan 2012
Foreign property owners are continuing to dominate London’s prime property market, according to Naomi Heaton, chief executive at London Central Portfolio.
According to Ms Heaton, foreign owners will always be prevalent in the market by virtue of the fact that there are more wealthy investors globally than in the UK.
However, it is also a sign of what a strong market the UK has to offer.
She suggested many investors see the UK market as a safe haven where they can take away decent yields, away from the turbulence of the eurozone crisis and the Arab Spring.
Ms Heaton said: "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."
Savills recently reported that residential values across the whole of prime London have ended 2011 on a record high.
Posted by Michael Brown
