S'pore investors urged to look beyond central London
London property continues to be popular among foreign investors, with Singaporeans playing a huge part in the whopping £37 billion (S$78 billion) overseas investment that has poured in over the last seven years, according to IP Global.
While the focus has been mainly on prime central London, IP Global is advising investors looking for the best returns to shift their attention to the southeast of the city.
The property investment company points to regeneration areas such as Bromley, Croydon, Greenwich and Lewisham in South East London as promising new spots where prices are expected to outperform prime central areas by 23 percent.
Located near the city's financial district and Canary Wharf, these traditionally unfashionable areas will soon become more connected once the upcoming Crossrail network provides new links to the rest of London.
"The connectivity and close proximity to central London, as well as nearby universities such as London School of Economics and Political Science and Imperial College London also mean a soaring demand for properties in these areas and this translates the assets into a lucrative investment," said Alex Bellingham, Director (Head of Singapore Office) at IP Global.
At the same time, the Scottish Independence referendum is not expected to affect property prices in Scotland, a popular destination for property investment, IP Global said.
"The impending referendum in September is unlikely to deter investors investing in Scotland. Driven by private investments with strong financial fundamentals, outstanding educational facilities and a well-developed tourism destination, Scotland will remain to be an attractive place for investment," noted Bellingham.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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