London Property Market News: Investors are increasingly turning to large luxury flats

By: Paramount-Magazine Published Date: 16 Feb 2012 15:38

Property investors in London are switching their attention from traditional townhouses to luxury super-sized apartments, it has been claimed.

According to Stephen Dyer, managing director of Ideal Property, cash rich buyers from overseas are shying away from the giant houses of Chelsea and Kensington are instead looking to move into spacious new developments.

And as a result of this, professional investors are following the trend and restructuring the types of properties in their portfolios.

"If the only market appears to be from these super-rich people from abroad then that's who you're going to develop for, so I guess you would have to find buildings that exist in London that you can develop in that way," Mr Dyer said.

He added that a number of new developments are already under construction and the market is set to grow considerably this year.

A recent study from Hampton International’s found that biggest number of overseas buyers last year came from Russia.

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