New reports from Knight Frank highlight why London remains a key target for Middle East investors.
Presented during a series of private sales events for Chelsea Creek, a new development in London, UK, that will comprise 2,376 residential units and 836,000 sq ft of commercial floor space, Knight Frank’s Wealth Report on the London housing market and the Global Education Report said that education was one of the key factors continuing to drive the central London property market.
Around 40 percent of high-net worth individuals in the Middle East will, the report stated, look abroad for a good school, which is comparable with Asia and Latin America.
As a result, global demand for places in London’s independent (non-government) schools has risen strongly over the last 10 years.
Although the central London market has begun to cool, competition over school places and access to universities and a weakening dollar means that attractive returns are still possible in a market where yields have been notoriously hard to find.
“In the recent wealth report from Knight Frank, we’ve been able to track the drivers that are continuing to make London an attractive prospect for UAE residents,” said Tom Hawkins, partner and head of international project marketing Middle East, Knight Frank.
“Currency changes, local regulation initiatives, quality of life and critically access to the UK’s best universities have all led to an increased demand for residential property within the London market. Access to the UK’s education sector remains an increasingly attractive driver for HNW investment interest.
“The area around Chelsea Creek,” he continued, “was part of a unique opportunity to open up this area of the Thames, and kick start the regeneration of south Fulham by delivering a new mixed-use riverside community and the Knight Frank Wealth Report highlights a distinct performance comparison between areas such as Chelsea Creek and the rest of the city.”
The Chelsea Creek development is part of the regeneration project spearheaded by St George and offers designed studio, one-, two- and three-bedroom apartments, complete with resident’s gym and concierge service with financial investment consultancy available for UAE residents and expats.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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