According to research conducted by the Association of Foreign Investors in Real Estate (AFIRE), London has become the number one city for foreign investments in real estate. The UK capital has overtaken the last year’s leader New York.
Chief Executive of AFIRE, James Fetgatter explains the success of London with the simplicity of British laws: “It’s very easy to invest in London, there are no restrictions, the tax regime is good for foreign investors”, he said.
Real estate in London or, to be more precise, luxury real estate in London, attracts many foreign investors and there’s a reason for this.
With its permissive regime, London has attracted many foreign investors mostly from Asia, the Middle East and Europe. The two biggest deals were done by foreign investors; Chinese life insurer Ping An with his £260 million investment and Kuwait’s representatives with their £1.7 billion investment in More London.
It is also worthwhile to note that, according to real estate experts, over £7 billion was spent by foreigners on luxury properties.
The huge foreign investments and tough competition on the London real estate market reveal the necessity of a well-balanced and carefully developed international real estate marketing strategy. We here at Relevance with the help of our professional, international team, are happy to take care of your online-marketing and PR strategy in Europe, China and Russia.