Global Marketplace: 81% of Real-Estate Buyers in London are Foreigners

And more than half are Asian.

london_developments.png

Via Faisal Islam's twitter feed is this fascinating chart from Jones Lang LaSalle showing the nationalities of real estate buyers in central London. Only 19 percent are British; a steady stream of international buyers, including people from Hong Kong, Singapore and Malaysia, make up the bulk of the purchases. As we reported recently, it seems foreigners are responsible for the crazy price boom in London's fanciest houses; but the data above is of standard family residences. What's driving these purchases? London's rising property prices make real estate an attractive asset (to the point where many see a bubble) and foreigners see fixed assets in the U.K. as a kind of haven investment. U.K. developers are even pre-selling their projects to overseas in investors in advance of building to reduce the financing risk on their projects.

Presented by

Tim Fernholz is a reporter at Quartz.

How to Cook Spaghetti Squash (and Why)

Cooking for yourself is one of the surest ways to eat well. Bestselling author Mark Bittman teaches James Hamblin the recipe that everyone is Googling.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

How to Cook Spaghetti Squash (and Why)

Cooking for yourself is one of the surest ways to eat well.

Video

Before Tinder, a Tree

Looking for your soulmate? Write a letter to the "Bridegroom's Oak" in Germany.

Video

The Health Benefits of Going Outside

People spend too much time indoors. One solution: ecotherapy.

Video

Where High Tech Meets the 1950s

Why did Green Bank, West Virginia, ban wireless signals? For science.

Video

Yes, Quidditch Is Real

How J.K. Rowling's magical sport spread from Hogwarts to college campuses

Video

Would You Live in a Treehouse?

A treehouse can be an ideal office space, vacation rental, and way of reconnecting with your youth.

More in Global

Just In