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London appealing to foreign investors

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Real estate investors across Europe tend to be favouring different areas of London, depending on their nationality, experts have noted.

According to independent property search consultancy Garrington, buyers from France are typically interested in exclusive locations such as Notting Hill, Bayswater, Connaught Village and Park Road.

Nick Dawson, London property finder at the organisation, said this reflects their desire to transfer money to high-end locations that are both physically attractive and offer strong investment potential, but without breaking the bank.

"If budgets will not extend to the South Kensington £1,600 per square foot then why not buy in an area that has all the similar sort of stock?" he commented.

Meanwhile, Mr Dawson noted that the South Kensington area is proving to be very popular with Italian investors, as it offers strong aesthetic appeal.

The cafe culture of this part of London was also said to appeal to people from Italy, along with the fact it is "central but not too central".

He went on to point out that the approach of Greek investors is quite different, as they tend to be "quite indiscriminate" regarding where they choose to buy property in London.

As a result, this group are looking towards areas including Paddington, Fitzrovia, Pimlico and Marylebone for potential purchases.

"All these areas border the super-prime hotspots," Mr Dawson observed.

"Greek investors seem to take a more commercial view and will look outside into other areas."

This comes shortly after Knight Frank noted that the top end of the London property market is being supported by interest from outside the UK

A report from the group stated that the super-prime market in the capital has continued to do well in recent months, despite Britain's continuing economic difficulties, because a "diverse" range of nationalities are drawn to its strong fundamentals.

This suggests investors from across Europe will continue to transfer money to the UK in the near future.

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