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Chinese 'replace Russian investors'

8th September 2010 | back to article listings BACK    print this article PRINT

Russian investors in the central London property market are predicted to be replaced as key players by Chinese buyers, according to fresh research.

The CB Ellis research comes as investors with foreign currency are still able to enjoy discounts on prime property in London due to the sterling staying weak. For example, Japanese yen could now buy a Westminster property for 36 per cent less than domestic investors.

As well as this, ongoing interest in the market from overseas has seen an increase in deals done and average house price rises in Westminster and Kensington, and Chelsea, of 23 per cent and 20 per cent respectively.

The research also predicts that domestic individuals will return to the market.

Copyright © Press Association 2010

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