Amid growing financial uncertainty, more foreign property buyers looking for new luxury homes are expected to flock to the UK, which is well-known as a safe haven for investment.
Jonathan Cranley, Sales and Marketing Director for Millgate Homes, said that foreigners bought up most of the luxury properties in 2012.
The country’s prime housing market has attracted buyers from all over the world, especially from China, Hong Kong and Russia, according to property portal WhatHouse?
“We are fortunate to be working at the very top end of the market building country mansions for high net worth individuals,” said Cranley.
Millgate Homes’ average sale price for 2012 “has been circa £2.5 million (S$4.96 million) and we do not anticipate a fall in house prices in our sector in 2013”.
Cranley added that the influx of foreign buyers has not waned while sales remains high despite concerns over the mansion tax affecting sales of new luxury homes. He expects the trend to continue this year, especially in South East England.
“The top end (of) the housing sector in the South East of England continues to be a very strong market and we are confident for another strong year of development and sales.”
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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