WEALTHY CHINESE TO INVEST MORE IN LONDON PROPERTY

        

Chinese investors particularly those from the mainland are set to become the biggest group of investors in London with a relaxation of the amount of money that can be moved overseas due to be implemented soon, it is claimed. The Changes in the stock market may also play a key roles a wealthy Chinese investors turn away from their domestic market to explore new investment opportunities overseas, says up market estate agent. According to Propertywire.com, typically, the Chinese spend up to E2m on a new off plan development in London; however the firm believed this would change with buyers from China looking at investing from E2m to E50m in real estate. “There is a huge amount of wealth in China and although we have started to see investment in London property in the last five years, the focus has been on off plan new build developments ranging from E500,000 to E5m,” said Simon Barry, head of new residential developments at Harrods Estates.