Real estate consultancy Jones Lang LaSalle says it is seeing an increase in the number of Singapore investors buying properties in London. And demand out of Singapore has already eclipsed that of Hong Kong last year. In 2012, buyers from overseas purchased 54 percent of all newly built apartments sold in London, with Singaporeans making up the largest percentage of Asian buyers. The Singapore...
UK Property
Fears have emerged that a bubble has formed in the London property market after prices rose to levels not seen since before the global financial crisis, but that is not deterring Singaporean investors who are attracted by the city’s global appeal and a favourable exchange rate. Official data released last week showed that London house prices rose by 8.1 per cent in a year to record highs, pushing the...
Home prices in the United Kingdom declined last month and may fall "modestly" this year because of a weak economic recovery, Nationwide Building Society said yesterday, but the London market that is popular with Singaporean and other Asian investors stayed resilient. The average cost of a home slipped 0.1 per cent to £162,262 (S$ 321,900) in December from the previous month, the UK lender said. From a...
Notting Hill London, the private development division of Notting Hill Housing Group, one of London’s most experienced and successful housing associations, is today launching Folio, a new development located on Micawber Street in London’s vibrant City fringes, adjacent to the burgeoning government supported ‘Silicon Roundabout’ area, which is attracting technology and creative firms. Located...
British house prices fell at their fastest annual pace in nearly three years last month, data from mortgage lender Nationwide showed on Wednesday, as the effects of nine months of recession spread further across the economy. Nationwide reported a 0.7 per cent decline in house prices in July. Prices are now 2.6 per cent lower than a year ago - their biggest annual fall since August 2009. Britain's economy...
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...
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...