Real estate exhibitions in Singapore, Hong Kong and Kuala Lumpur have been an increasingly important source of London real estate buyers.
According to research from the London office of CB Richard Ellis (CBRE), over £800 million worth of properties, or 2,500 units, were sold at exhibitions in the three cities last year.
“Although a good proportion of Far East investment still traditionally flows through London-based estate agents, this has been largely superseded by the role (of) exhibitions in Hong Kong, Singapore and Kuala Lumpur,” said Jennet Siebrits, Head of Residential Research UK for CBRE. About five percent to 10 percent of buyers were Chinese, and this percentage will likely increase, she added.
The report said the majority of buyers at exhibitions are savvy investors taking a long-term view, both for strong rental returns and capital appreciation. These investors are searching in established markets and in regeneration areas where there are imminent transport improvements.
“To some extent, these buyer groups (from Asia) have always existed. However the advantages of buying now means that a broader base of buyers have been brought into the market. Families — who are not billionaires or professional real estate gurus — are now looking to buy in Central London, often with their children in mind,” added Ms. Siebrits.