London property market development opportunities
International property investors may soon look to engage the services of money transfer companies as a London-based estate agent has said the city offers strong opportunities.
Ed Mead, director of the group, explained that foreign buyers were especially interested in snapping up properties in the capital.
"Anywhere that appeals to foreigners is doing well at the moment," he remarked.
This includes regions such as Hampstead, St Johns Wood, Mayfair, Belgravia and Chelsea, the expert explained.
"But [it] also includes some areas of Battersea - around Battersea Park, Fulham and on what is known as the Peterborough Estate, so around Parsons Green, Wandsworth, in the area of Spencer Park and the Toast Rack," he added.
As more overseas house-hunters put their money into the market these regions have seen climbing prices, while everything else has been going flat or down.
"It's because they are relatively safe areas, they have good either late-Victorian or Edwardian housing, the schools in the area are considered to be good and it is an area where other like-minded people congregate," Mr Mead continued.
The most popular regions are also areas where native Londoners had been forced to settle after being priced out of central London.
He said: "So those are the next areas that people want to live [in] and the foreigners followed as well because it's where most people they lived alongside liked to live."
According to the NatWest International Personal banking Quality of Life Index, businesses are increasingly looking for foreign opportunities.
Those looking to make a business money transfer were told that Singapore, Hong Kong and US offer the best opportunities for development.
Meanwhile, Spain, China and the United Arab Emirates were deemed the worst locations for a budding business.