The Chinese are the most active buyers of luxury housing in London

The Chinese are the most active buyers of luxury housing in London

Investors from China and Hong Kong in the past year were the most active buyers in the prime residential market in London, said ee24.ru.

The company Savills has released a report according to which the buyers from China acquire 27% of the total number of new luxury homes in London. Most often, they buy high-rise, modern homes near the beach.

In London there are two groups of investors from China: super-rich businessmen from Hong Kong and the new rich from mainland China. Hong Kongers make more purchases than mainland Chinese. Most luxury homes are purchased for children of businessmen who are studying in London.
 
Buyers from North America account for only 3.3% of all sales in London, as investors from Latin America are only 0.1% of the total number of buyers.

Luxury property in London rose in price by 60% compared to the crisis year of 2009. However, Savills report shows that a large proportion of the houses is only the direction of investments, and no one lives there.