Foreign investors buying London properties
Foreign investors could soon be making an international money transfer to tie their savings up in London properties as an expert explains they are secure throughout troubling times.
Ideal Property managing director Stephen Dyer explained that international investors were jostling to plough their money into London's "high net worth areas".
"People are buying in London because they need to get their money out of whatever country it is in and they see London as a safe place," he commented.
As a result of this money migration, London is experiencing a lot of "movement" as property prices soar.
"Kensington, Notting Hill, Holland Park - those sorts of areas do seem to be seeing some massive activity and some very high net worth properties [are] selling," he added.
Mr Dyer touted London as a "fantastic" city to live in, saying that it has "pretty much" everything an investor could want, including safety and a vibrant business community.
"It's where people want to be when things are tough elsewhere," Mr Dyer revealed.
London's stability as safe hub of employment and lively social life make it an ideal area to live even when compared to other UK cities, according to the expert.
He concluded: "Most of business life is in London. The airports are around London, it is easier to commute… You can get to a whole raft of places in ten to twenty minutes… which are really quite far out of London."
However, many investors may be interested in making a business money transfer to Dubai, with the region said to have "fantastic deals" on properties.
BuyAssociation's Paul Collins said that prices are continuing to fall in Dubai, which creates a golden opportunity for savvy investors.
He commented: "If you are buying for your own use, then there are some fantastic deals to be had - particularly on new projects - but even on completed projects, there are some great ones around."