Home Residential Property Eight in 10 luxury London new-builds sold to foreign buyers

Eight in 10 luxury London new-builds sold to foreign buyers

by Deleted Subscriber Content
8th Sep 13 9:43 pm

Almost eight in 10 prime London new-build homes bought in the past two years were sold to foreign buyers, according to new research.

People from China and the Far East were the biggest buyers of the London luxury new-builds sold since 2011, snapping up some 39.5%, according to estate agents Savills’ prime central London report.

They were followed by Brits, who bought 21.2%, Middle Easterners at 18% and Russian and Easter European buyers at 10.7%.

The report defined “prime” as homes costing more than £1,000 per sq ft.

Savills’ figures follow estate agents Chesterton Humberts research from the past few years, which estimated that 65-70% of prime London new builds were sold to foreign buyers.

Savills research also found that prime London property has increased in price by a colossal 190% since 2005.

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