London has been named the best city in the world for foreign property investors.
The capital has come out top of a survey conducted by the Association of Foreign Investors in Real Estate, and is the only non-US city in the top five. New York — last year’s top spot — came second.
The position was achieved after a year that saw to the number of major London property deals struck last year, including the £260 million sale of the Lloyd’s of London building in Lime Street to Chinese life assurer Ping An and the £1.7 billion acquisition by Kuwait’s St Martins Property Group of More London — whose 13-acre estate includes the Mayor’s office, City Hall.
The States kept its position as the most “stable and secure” country for foreign investors in property, more than 50 percentage points ahead of Germany in second place.
“Foreign investors’ continued interest in the US real estate markets reflects fully functioning capital markets that provide access to a broad range of investment opportunities,” the Association of Foreign Investors in Real Estate’s chairman, Steven Hason, said.