As prices (and risks) rise in London, investors are looking beyond the metropolis. City A.M. reports on new findings from Savills which show that, through August of this year, international buyers have invested £10.5 billion (about $16 billion) in U.K. real estate outside of the capital. The agency predicts that overseas buyers will invest an additional £3.5 (about $5.3 billion) in these British regions by year’s end. The publication notes that the cumulative predicted total investment of £14 billion (about $21 billion) is equal to the total foreign investment for the years 2009 through 2012 combined. Why are international buyers attracted to these non-London areas? Richard Merryweather, joint head of UK investment at Savills, said: “Some of the investors we’re seeing active outside London are quite opportunistic players; attracted to the regions rather than the capital by the higher yields and growth prospects, as well as the opportunity to add value by acquiring portfolios. “We expect this trend to continue into 2016, as it is clear that non-domestic investors are becoming increasingly familiar and comfortable with markets outside London,” he added.
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Buying Britain
A new report predicts that overseas investment in U.K. property outside of London will hit about $21 billion by year’s end
A six bedroom, six bathroom home currently on the market in Swindon, U.K. for about $2.45 million.
CHRISTIE’S INTERNATIONAL REAL ESTATEA six bedroom, six bathroom home currently on the market in Swindon, U.K. for about $2.45 million.
CHRISTIE’S INTERNATIONAL REAL ESTATE