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Hong Kong investors express interest in London
9 Jul
Property investors based in Hong Kong are now turning to London for commercial property, according to West End and City agents.

As the Standard reports, political protests related to a proposed bill allowing extraditions to mainland China have driven investors to the British capital.

“We are definitely seeing a recent upswing in investor interest from Hong Kong, which could be attributed to the political situation there,” said Savills’ director Jonathan O’Regan.

“Savvy investors are seeing cheap sterling (amid Brexit) as being the ideal opportunity to invest into core assets, such as those in prime West End locations,” he went on to say.

James Beckham, head of central London investment at CBRE, said: “Hong Kong investors have for a long time been some of the most prolific outbound sources of Asian capital. They are shrewd investors and London’s strong fundamentals remain very attractive particularly when there are some challenges within Hong Kong itself.”

Beckham added that this trend is likely to continue in the future.

Although Brexit has dampened London’s property outlook, Hong Kong firms are forecast to make office purchases in the city over the next few months.

“Overall, there is a feeling that Hong Kong investors are gently starting to be more inquisitive towards London real estate again as sterling begins to look weaker against their domestic currency and the US dollar and possibly, due to the political anxiety in their country,” said Aidan Meynell, head of City of London investment at BNP Paribas Real Estate.

He added: “Notwithstanding our own political uncertainty, London remains a leading global city, offering stable growth prospects, a transparent market place and attractive yield spread when compared to other major European and international cities.”

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