Blimey, Blighty – 85% of prime London homes sold to foreign buyers

We have grown used to stories about how foreign buyers are propping up – or, depending on your view, overcrowding – the London property market. But the latest figures are enough to make even the most desensitised among us sit up and take note.

According to estate agent network London Property Partners, 85% of all prime London properties were sold to overseas buyers last year, while just 15% went to the UK market. Of the purchasers, 80% were from European nations and 20% from Asian.

It has previously been estimated that foreign buyers account for around 50% to 65% of all prime London purchases and up to 75% of new build homes in the capital.

London Property Partners expect the demand trend to continue, with prime London property prices increasing by 4% this year and 32.5% in the five-year period to 2017.