London Attracts Foreign Property Investors
Foreign interest has been keeping the central London office property market hot — and that interest is expected to stay keen in 2012. In the past year, non-UK investors accounted for 64 percent of total turnover in the City and 60 percent of total turnover in the West End, according to Savills.
“Central London demand continues, as international investment rose to 60 percent in 2011,” comments Stephen Down, head of central London investment at Savills. “Activity from European buyers, in particular, dominated the West End market in 2011, accounting for over 30 percent of deals, while Asian investors increased their market share in the City, representing 24 percent of total transactions, with a particular focus on larger transactions.”
According to Savills, there was an increase in the number of larger transactions — defined as more than £100 million (€120 million) — in the West End, while the City was domina