Monday, July 23, 2012

London calling, no signs of cooling

EXCLUSIVE: The number private properties being bought in Singapore may have declined in recent months but the same cannot be said for the number of Singaporeans buying London property.

Last weekend saw more than 60 deals done for units at Lincoln Plaza, a Galliard Homes project which was marketed in Singapore by Jones Lang LaSalle.

Doris Tan, Director, spoke exclusively to PropertyGuru at the exhibition and was understandably extremely pleased with the high level of local interest. She said: “We were literally swamped with buyers on Saturday. Buyers have been attracted by the great location and excellent pricing.”

Units at Lincoln Plaza were being marketed from £249,000 (S$490,000).

However interest in London properties in Singapore last weekend was not limited to Canary Wharf.

Berkeley Homes showcased its prestigious Abell & Cleland project in Westminster and closed “.. a good number of sales” according to Seb Warner, Regional Director Asia Pacific, International Project Marketing for agent Knight Frank.

Warner told PropertyGuru that this project, priced from £849,000 (S$1.65 million), saw “quality” attendees with genuine interest. He said: “This isn’t a run-of-the-mill project and the clients we saw over the weekend had great knowledge about prime central London property.”

Buyers at Abell & Cleland were mostly looking for capital appreciation on the back of London’s ‘safe haven’ status. “The mind-set has changed too,” he added. “Asians are now focusing very much on quality property investments.”

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