Taipei (The China Post/ANN) - A UK developer is looking for buyers in Taiwan to purchase its luxury apartments by the Thames, said Savills, advisor of the sale, yesterday.
Past buyers of UK luxury mansions were usually those from Hong Kong and Singapore, said Robert Collins, chief of Savills' Asia-Pacific luxury sales unit. Yet recently more and more Chinese, Thai and Malaysians have entered UK real estate as well, he said.
Chu Hsing-er, chairwoman of Savills Taiwan, said UK developers are also eyeing Taiwan buyers, whose purchase power has been on the rise.
For the Taiwanese, London real estate's selling point is the depreciating pound, which has devalued 30 per cent since 2007 against the New Taiwan dollar, Chu said.
London has more home demand than supply, and the price has further room to grow, she said.
The UK capital is a world financial centre and has abundant people with housing and rental needs, she said, adding that many parents purchase London homes for their kids studying abroad there, and lease or sell them after they graduate.
The apartments on sale this time range from 23 to 58 ping, with two to three rooms and priced between NT$90 million and NT$160 million. Each ping is 3.3 square metres. Each apartment carries a right of usage of 999 years.
Simon Capp, who represents the developer, said luxury mansions in UK are not evaluated by their size but by their location, quality and interior decor. Luxury apartments are mostly located in the heart of a city and have easy access to public transportation and retail shops.
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