New research from prominent property body Cushman & Wakefield has revealed that Asia Pacific investment in London property recently hit a five-year high.
According to its report, Asian investment accounted for almost half of all residential and commercial deals recorded in London during the first six months of 2017 – with overseas firms and high net worth individuals (HNWI) from the Asia Pacific region spending more than £3.42bn on City properties.
Investment from countries such as China, Hong Kong and Singapore hit record highs, while investment from Europe followed very closely behind.
The research suggests that Brexit and political uncertainties do not appear to be deterring foreign investors from London’s bustling property market.
Cushman & Wakefield’s figures reveal that, overall, London property investment was up 18.5 per cent on figures recorded during the same period the previous year (the six months to July).
Commenting on the research, James Beckham, of Cushman & Wakefield, said: “Asia-Pacific investors from across the entire region dominated the London market in the first half of this year and are set to continue with strong ongoing interest in assets right across the risk spectrum.”
The data comes just weeks after separate research revealed that Middle and Far Eastern buyers spent approximately £1.9bn on London property last year.