London comes top in overseas investment ranking as Asian demand flourishes

London has kept its crown as the world’s most popular city for global real estate investment, according to a new report that sheds light on the burgeoning overseas demand for commercial property in the capital. Buoyed by an influx of Asian money, London has now held its position as the top city for cross-border investment for nine of the past 10 years. A capital markets report by Cushman & Wakefield shows London saw off the likes of Paris, Amsterdam and Hong Kong to reclaim the number one spot, as it reported a 22 per cent year-on-year rise in investment from abroad in the 12 months leading up to the second quarter of 2018. A number of high-profile sales have bolstered London’s ranking, such as the sale of the new Goldman Sachs HQ which was snapped up by South Korea’s National Pension Service for £1.1bn in August, and the London HQ of UBS which was bought by a Hong Kong-focused property developer for £1bn in June. While buyers from South Korea and Hong Kong have largely dominated the spending spree in London’s commercial property market this year, a number of industry experts are now expecting the arrival of investors from another corner of East Asia: Japan.

Source: CityAM