Malaysia's state-backed fund, Permodalan Nasional Berhad (PNB), has acquired two landmark London offices for around £500 million (S$1 billion) in the latest example of continued overseas interest in the UK capital. PNB bought One Exchange Square in the City, the famously lavish home of the European Bank for Reconstruction and Development; and 90 High Holborn, the headquarters of law firm Olswang. The...
London Property
Luxury home prices in central London rose for a 14th consecutive month in December amid tight supply and demand from overseas buyers seeking safer investments, Knight Frank said. Values of houses and apartments that cost an average of £3.7 million (S$7.4 million) rose by an average of 0.8 per cent from a month earlier, the broker said in a report yesterday. Prices are now 7 per cent higher than their...
Luxury-home prices in central London climbed the most in nine months this month as the increasing risk of a global recession prompted investors to seek a haven for their wealth. According to real estate consultancy Knight Frank, the values of houses and apartments costing an average of £3.7 million (S$7.28 million) rose 10.5 per cent in the 12 months through August. "There's a lot of money out there...
Singaporeans are snapping up overseas properties, especially those in London. Analysts said the demand for overseas property investments is mainly boosted by a strong Singapore dollar. And now, with increasing volatility in the equity markets, more investors here are likely to park their funds in high-yielding overseas properties. According to a report by Knight Frank, Singaporeans tied with the French...
While the West End has been the traditional haunt of luxury-residential developers in London, soaring property prices have pushed companies such as Singapore-based KOP Properties to look east for more lucrative opportunities. New development has been creeping along the Thames, towards the City, with large-scale residential and mixed-use projects like the Shard and NEO Bankside, bringing high-end space to...
More of Singapore's affluent are looking to buy properties in global cities like London, to take advantage of the strengthening Singapore dollar which has gained against overseas currencies such as the UK pound, said bankers. The Singapore dollar has risen more than 25 per cent against the British pound since the collaspe of Lehman Brothers in September 2008. In August 2010, local bank OCBC allowed its...
London properties are increasingly attracting interest from Singaporeans. And one key reason is the prospects of good capital appreciation. The lower British pound and good returns are two main reasons Singapore investors are drawn to London properties. Glentree Estates Agents managing director Trevor Abrahmsohn said: "I think it's an absolutely perfect opportunity because prices are probably 10 per...
ASIAN investors, including those from Singapore, attracted by a weak pound and rising rents, made up almost half of all buyers in the London residential property market in the past year, according to research by Knight Frank. Investors from China, Hong Kong, Singapore and Malaysia accounted for 28 per cent of London home purchases in the year to March, the London- based broker said in an e-mailed...
The quicker-than-expected recovery in property markets in many countries may have caught many investors by surprise. Property investors looking for investment homes to ride on this recovery may have missed out on the recent boom that saw Singapore's private and public resale home prices rise a further 5.1 per cent and 2.7 per cent, respectively, in the first quarter of this year. But looking further...