16 Oct '11, 7am

Chinese investors snap up London property

LONDON: Chinese investors have been snapping up London real estate, with one-in-three buyers of newly built London homes coming from China and Hong Kong, according to one recent report. London's Docklands was once the city's industrial heart and the world's largest port. Now property developers are looking to China to lift the area out of recession. They insist London is a safe bet in tough economic times- especially for Chinese investing for the long-term. Ms Sherry Madera, from Mandarin web portal Luckywu.com, said: "London has picked up significantly and a lot of that is because foreign money is coming into it...The Chinese are following the likes of the Russian investors, and the Arabic investors who came previously, to bolster the London market. It's a safe haven, it's seen as a property market that is going to rise." Ms Madera is so confident about the Chinese market...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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