Safe haven for investors
We read with interest the Telegraph's article on Monday headed 'West End and City become safe haven for property investors.' Cushman Wakefield, the global real estate company, reported a £1.6bn increase in commercial property transactions in the City in 2011 against the previous year, with 30% of this attributed to the Asian market.
We reported throughout 2011 an increase in demand for good quality properties in Belgravia from the international market. Overall, in 2011, 60% of our transactions were to international investors and almost all of these were cash buyers, moving their equity into what is considered the safest of prime central London areas.
Prices rose between 8-10% throughout 2011. Securing a purchaser may have taken a little bit longer but asking prices were regularly achieved and were back to pre-Lehman Brother days. This is not to say we anticipate a bullish 2012 but cautious optimism, whilst the demand continues, would not be unreasonable.