International buyers in UK property rising

Posted: 28 Jan 2009 08:40:12 GMT

Research conducted by estate agent Hamptons International has found that there has been a 20 per cent rise in the number of Europeans buying prime London properties throughout 2008.

Comparing Q4 2007 with Q4 2008, Hamptons noted not only a rise of a fifth in the number of Europeans buying properties in the capital but also a rise of 12 per cent in the number of both Europeans and Americans buying properties in the country.

Rob Bruce, research manager at Hamptons International said: "The devaluation of Sterling has, without a doubt, created an extremely favourable climate for foreign investors in the UK.

"We have seen a strong increase in international buyers over the last few months - particularly from Italy and France. This trend started in London and is now filtering out across the country."

The figures are not likely to represent a true turnaround in the UK housing market, however, as the recession is likely to ensure confidence and transaction rates remain low, but homeowners hoping for an effective sale could choose to sell their property online.

Selling a property online could attract international buyers at a time when UK buyers are dwindling, leading to a quicker and potentially more profitable sale.



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