Foreign investment in London property set to continue
The recent announcement of a double dip recession is unlikely to put off further investment in London property, according to one property expert.
Liam Bailey, head of residential research at Knight Frank, said many people are considering investing in the rental market in the UK as a long-term prospect.
“I don’t think that short-term shifts in GDP performance are going to influence it particularly because there has been pretty much no good growth in the UK economy in the last couple of years so it is just more of the same really on the GDP side.”
Mr Bailey noted that the strong demand for London property from foreign investors has been high in recent years due to the strength of the euro against the pound.
“Even though the pound has recovered some ground against the euro, that has still not stopped foreign buyers from coming into the market,” he added.
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