Keeping the crown

A new report has revealed London has kept its crown for overseas real estate investment, and the demand for commercial property in the city is continuing to grow, despite Brexit fears.

For the past 10 years, the demand for property in London has overtaken many other cities. A report by Capital Markets, shows London overtook Hong Kong, New York and Paris to reclaim its title. The demand saw a 22 percent year-on-year rise towards the last 12 months leading up to the last quarter of 2018 for investment from abroad.

In the past year, high profile purchases in London have included the London HQ of UBS, bought by a Hong Kong property developer for £1bn back in June, and the recent sale of the new Goldman Sachs HQ, sold to South Korea’s National Pension Service for £1.