London has pipped Munich and Berlin to be named the world’s best city to invest in property.
The capital’s earned the top spot, in a survey by the world’s largest property agent CBRE, for the second year running.
The report published in MIPIM shows that 31% of the 362 investors surveyed think London’s the best place to put their money followed by Munich at 16% and then Berlin, Paris and Warsaw.
Mike Edwards, central London executive director for CBRE said: “Investors are looking to commit further capital to European real estate in 2013, with London again likely to be the biggest beneficiary.
“The current and significant improvements in leasing activity will reinforce the already strong investor confidence in the central London market.”
The news comes after UK property giant British Land announced plans to spend £1bn in London property acquisitions and developments.
Speaking at the conference, London Mayor Boris Johnson said the capital lures investors because of it being in the right time zone and having language and quality property opportunities.
However he added that “you can never be complacent”.
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