Prime London prices rise with Middle Eastern investment
11 Jul 2011
(MENAFN) IP Global said that popular unrest in the Middle East and inflation in Asia have spiked Middle Eastern investment in prime central London real estate over the past year, Arabian Business reported.
Middle Eastern investors now account for 20 percent of all prime central London purchases, IP Global said in a statement. Foreign buyers account for 48 percent of all prime central London purchases.
London accounts for 60 percent of all UAE investment. GCC investors invest most frequently in London’s Belgravia, Knightsbridge, Mayfair and Chelsea, the statement said.
Prime central London real estate prices rose 24 percent from their 2009 low after the global financial crisis and are now 2 percent higher than their spring 2008 peak, Knight Frank, a real estate consultancy, said in June. Knight Frank projected prime London property prices to grow 9 percent this year.