By Andrew Batt:
Buyers from Asia have purchased the last five units at the ultra-luxury One Hyde Park development in London – home of the most expensive apartment in the U.K. capital.
These final sales mean buyers from China and Malaysia make up more than 30 percent of the total sales at the development, where units are priced from £7 million to £136 million (S$13.8 million – S$267.8 million).
Nick Candy (pictured), the manager and designer of the project, told Reuters: “One of the reasons why Asian buyers are investing so heavily in the London property market is because China’s economic growth has slowed down.”
In an exclusive interview with PropertyGuru late last year, Candy predicted Asian buyers would dominate sales at his development, and his prophecy has been proved right.
One Hyde Park is home to the most expensive apartments in London at £166.4 million (S$327.6 million). Rinat Akhmetov, Ukraine’s richest man, along with Australian pop star Kylie Minogue are reported to have purchased units.
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