According to the most recent figures, property investment in London for the first 6 months of 2017 grew by 18% compared to the same period in 2016.
Despite fears about the effects which Brexit will have on the central London property market, the most recent figures have shown that there has been an increase in commercial property investment in comparison to the same time last year. During the first 6 months of 2016, £7.45bn was spent on commercial property in London. During the first 6 months of 2017, this figure rose to £8.83bn, an increase of around 18%.
Most of the investment capital and large purchases came from the Far East with 46% of the total investment coming from the region. This includes the combined £4.07bn spent by Hong Kongers, Chinese, and Singaporeans. Some of the flagship investments made include the iconic Cheesegrater skyscraper which was purchased by CC Land of Hong Kong for £1.15bn, and China Resources Land’s purchase of 20 Gresham Street for £315m.
This inward investment has been helped by the relative weakness of the pound which makes it far easier for foreign investors to buy property in the capital. It also shows that, despite the uncertainty, London remains a dynamic city which people want to invest in.
Here at Robert Irving Burns, we strongly believe that this growth will continue and will even extend to other parts of the United Kingdom. As a result, we believe that there has never been a better time to invest in the capital.
Six Ways You Can Make the Most of a Small Space
City living often means having to compromise between location and space. This article outlines a number of ways to make a small space seem larger. RIB specialise in West End properties and whilst living or renting within Central London often means you have a smaller home compared to those further out, there are many ways
Paignton Investment Property Sold By RIB Team
We are delighted to announce that we have successfully sold an investment property located in Paignton, Devon. Paignton is an affluent seaside town located in the southwest, forming part of the English Riviera along with Torquay and Brixham. It is located approximately 24 miles south west of Exeter, 3 miles south of Torquay, and 29
What is the Difference Between Types of Office Fit Out?
Fitting out an office space is the process by which the internal space is made suitable for the tenant’s occupation. It includes the installation of any of any facilities such as a kitchen or bathroom as well as creating meeting rooms, work stations, breakout areas, and raising the flooring. Many new office lettings are provided