Over £16.5 Billion Invested in London Property

The latest research carried out by UK property agency Savills revealed that significant portion of London housing market is financed by foreigners. The results of the research were published on June 10th.

Every year, as much as £3.3 billion is injected into the sector. Almost £0.5 billion more is spent onto the construction of new homes. Added together, this money can buy as many as 18,561 average UK properties or all greater London residential houses over 157 years.

According to Savills' estimates, in the last 5 years alone a total of £16.5 billion was injected into London property sector.

Experts are determined that those are foreign investments that allow London housing market to function at the level it does now. "This cash injection means that prime London values now move more in line with other global real estate, commodities and investment markets than domestic UK housing markets," states the Savills report.

If you wish to view the full version of the press release, please, refer to the official website of Savills.