Investment in London property from China has increased by more than 1,500 percent since 2010, with London property buyers from the mainland predicted to overtake those from Singapore within two years.
Chinese buyers account for 27 percent of new London homes and 17 percent of the total value of all residential property transactions in the U.K. capital. An estimated 60 percent of purchases are investments while the remaining 40 percent are for occupation.
With these facts in mind luxury real estate firm Harrods Estates has signed a partnership with Juwai.com to market its properties to Chinese buyers.
Shirley Humphrey, Director of Harrods Estates, said: “There are 643,000 millionaires in China, with 14 percent being added to that number each year. Chinese are perhaps the most motivated and numerous wealthy foreign buyers of London real estate.”
Juwai.com Co-Chief Executive Officer Simon Henry, said: “Chinese buyers already know and trust the Harrods brand name, which will make it easier for Harrods Estates to make itself an estate agency of choice for high net worth Chinese seeking property in London’s best neighbourhoods.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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