8
Jun
London property market 'is popular among investors'
Property for sale in London is proving a hit
with investors, according to one expert.
Commenting on the issue, Nigel Ellis, director at Prickett &
Ellis, said a combination of reduced prices and a weak pound have
created bargains for those outside the UK looking to secure real
estate in the capital.
He remarked: "It is the way it always will be; if prices come down
in international terms, you get more international buyers."
Mr Ellis went on to say that interest rates will probably stay low
for a while, although some groups are encouraging the Bank of
England to raise them.
His comments followed the release of research from Savills, which
showed that 55 per cent of all property transactions in prime
central London over the last year were made by foreign
buyers.
This was a rise from the figure of 45 per cent recorded in 2006 and
2007.
