London's safe haven status continues, as data from the London Central Portfolio reveals investor activity from overseas buyers in the prime market was strong in the year 2016-17.
International buyers continue to invest in the prime London property market, with the majority of those buyers coming from the Middle East and Asia.
After Middle Eastern and Asian investors, EU investors were the third largest group to invest in the prime market.
According to data published in Autumn 2017 by the London Central Portfolio (LCP), buyers from South East Asia accounted for 36% of prime London property purchases in the year 2016-17. This was followed by buyers from India who accounted for 22% of prime property sales, while Middle Eastern buyers took a 21% share of overall sales.
This data shows that parts of prime London, including Knightsbridge, Paddington and Kensington remain popular with wealthy overseas investors who want to buy into a secure, established property market.
However, there are fears the ongoing uncertainty caused by Brexit may deter some would-be overseas investors from buying prime London property, but it seems this has not been the case, with London still viewed as a safe haven.
In the aftermath of the UK's vote to leave the EU in June 2016, favourable exchanges rates for overseas buyers led to a surge in the number of international investors snapping up prime property.
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