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FINANCIAL NEWS
ME investors acquire USD180m London properties in 2011
21 Feb 2012
(MENAFN) Jones Lang LaSalle (JLL) said that in 2011, the company sold USD180 million worth of London properties to investors from the Middle East, reported Gulf News.
The real estate consultancy added that in the period, USD2 billion worth of new build residential property was sold to foreigners, with regional investors representing around 9 percent, compared with 5 percent a year earlier.
Moreover, at the current time, the Middle East accounts for the second largest group of foreign investors purchasing into the London residential market after nationals from the Asia Pacific region, who contributed with 15 percent of overall acquisitions.
It is worth noting that weak sterling and a favorable tax system make London more attractive among a range of potential foreign investors, according to JLL.
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