14 Apr '11, 9pm

Rich Singaporeans snap up London homes

SINGAPORE - Singaporeans accounted for a tenth of buyers in the high-end London property market last year - a share which experts expect to rise further this year as cooling measures at home drive more investors to markets abroad. Investors here joined their peers from China and Hong Kong (11 per cent), Malaysia (7 per cent), Middle East (3.5 per cent) and the rest of Asia (18.1 per cent) to collectively account for more than 49 per cent of total investors in the central London housing market last year, according to a study by property firm Knight Frank. There were a total of 7,579 new-build residential units in central London for the year ended March 2010, according to the study. With their high stake, Asians outpaced United Kingdom's homegrown investors, who only had a 36.9 per cent share. Other nationalities with investments in London properties, albeit modest, included...

Full article: http://www.todayonline.com/Business/EDC110415-0000350/Ric...

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