International property buyers 'focus on London'

Date:Wednesday 18th August 2010
Author: Max Freedman

Property buyers from abroad looking to make a purchase in the UK will turn to London, according to one expert.

Ed Mead, director at Douglas & Gordon, said that for many overseas investors, when they consider purchasing a property in another country, the first city they will think of is London.

The housing market specialist explained: "London is always a safe haven, not just in terms of its economy and its position in the world, but it is also one of those places which happens to be politically stable."

He added that many investors from abroad will turn to the British capital if their home country's economy is not looking very strong as London is seen as being a safe investment.

For purchasers looking to buy a prime property in London the cost fell by 0.5 per cent in July, the first time that it has declined since March 2009, recent figures from Knight Frank have shown.