Foreign Investment in London Remains Strong
In these somewhat uncertain times, it’s always good to hear positive news, which needs highlighting to negate the doom and gloom that often rules the media.
With this is mind, we at Pindoria Solicitors are glad to hear of new research which seems to suggest overseas investors are putting their money into London’s property market, in the wake of recent falls in the value of sterling.
Being both commercial and residential property legal experts, we have read the report from large commercial estate agents, Cushman and Wake field with great interest, and it has found that London’s property investment was up 18.5% year on year in the first 6 months of 2017, with many of the deals being from well beyond these shores.
The report says countries from the Far East and China, in particular soared in the first half of the year, whilst investment from Europe followed close behind.
This news suggests strongly that whilst Brexit-related uncertainties are reported nearly daily in the UK media, European investor’s interest has not been anywhere near as harsh as some had expected.
This research comes on the back of other separate reports showing money from the Middle East and Far East is flooding into our capital.
Here at Pindoria Solicitors, where we oversee many large property deals each year, we are pleased that studies, such as this are demonstrating to the rest of the world that the UK remains a strong investment.
Unquestionably, the decision to leave the EU, whatever side of the debate you stood on, has meant there are many more uncertainties than before, and it would probably be unwise to say otherwise.
However, in a closely interlinked global economy, and with London very much at the forefront of leading global cities, it seems many investors still see this wonderful city of ours as a sound place to bank on.
Good news like this deserves the oxygen of publicity as a strong London is good news for all of us.