Chinese investors have increased their focus on London’s property market, partly because of the fall in the pound and partly because there are signs of an end to China’s own property bubble.
Sales of homes in the capital’s most exclusive areas to Chinese buyers have risen since the Brexit vote, while investment into commercial property from China is on track to grow this year, even as other investors draw back.
“The British currency is at a 30-year low; the Chinese housing market is at a 25-year high. Why look any further?” said Terry Li, a project director for Beijing-based CY Infotech and owner of a home in Kensington, west London.
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