High-end London real estate agent Aston Chase has seen a recent surge in interest from Asia – with three significant sales to Chinese individuals in as many months.
The most notable being a stunning detached house on Elm Tree Road in London’s St John’s Wood, NW8 (pictured) with a price tag of £17.95 million (S$38.19 million). This was sold to a Chinese family looking to educate their children in the U.K. whilst having a foothold in Europe for business reasons. The agency has also seen two further significant purchases by Chinese buyers on the very same road for £7.95 million (S$16.91 million), and one on nearby Norfolk Road, again for £7.95 million (S$16.91 million).
Lee Koffman, Senior Sales Negotiator at Aston Chase, said: “This year has seen a marked increase in interest in St John’s Wood from Chinese buyers. With more buyers from Asia registering with us every week this trend is set to continue. Indeed they are not looking to purchase purely for investment but to settle here in London to do business and educate their children.”
Mark Pollack, Director of Aston Chase, added: “Traditionally buyers in St John’s Wood have come from Europe and the Middle East but we have now seen a shift in interest to the East with more and more new applicants coming from Asia.
“Finance Minister George Osborne’s recent announcement of a relaxation of visa applications for Chinese nationals, coupled with Chinese Premier Li Keqiang’s visit to London, is only likely to strengthen this trend and we are expecting even more interest as the year progresses,” he concluded.
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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