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R>UK buyers accounted for the majority of property purchases across the prime residential market in London in 2012, but more and more international buyers are entering the market, especially for off plan developments.
New research from Knight Frank shows that 58% of homes were bought by domestic buyers. Europeans accounted for 13% of sales during the year, while one in ten sales were to Asian buyers. Nearly 5% of sales were to Russian purchasers.
But in the new build market, although UK buyers remain the largest segment at 27%, buyers from Singapore were second with 23%, followed by Hong Kong buyers at 16%, Chinese buyers at 5% and Malaysians at 4%.
Indeed, overseas buyers purchased new build property in London worth some
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