Extract from Evening Standard (London) 14/06/10
Weston Homes recently sold 31 properties worth £11 million at its King’s Island development in Uxbridge after weekend exhibitions in Hong Kong and Macau.
Mayfair based firm Celestial Globe specialises in finding Chinese investors for London developments. Consultant Siqi Zhang was showing the group around Pan Peninsula last week. She said: “In mainland China, the authorities have restricted property speculators to dampen the market. And in Hong Kong, prices have risen by 70 per cent in under two years. “London now offers much better value than Beijing, Shanghai and Hong Kong. For a normal £400,000 investment you can buy a freehold property in London. But in Beijing you can’t even get a central apartment.”
Research by Knight Frank suggests six in 10 newly-built homes in central London in the past six months were sold to Asian buyers. Hong Kong investors were the largest group at 24 per cent, followed by Singaporeans at 12 per cent and mainland Chinese taking 10 per cent.
Knight Frank is transferring Seb Warner, its London residential development partner, to Hong Kong, where he will head the Asia region. Neil Batty, head of Knight Frank international project management, said: “We are rapidly expanding into mainland China.”
For more information on King's Island Uxbridge - please call the sales & marketing suite on 0845 638 5010 For more information on Canon Court, Wallington, Surrey - please call 0845 638 5019