Investors are seeking out property in London because they see the UK's capital as a safe place to put their money, one expert has suggested. Stephen Dyer, managing director of Ideal Property, also noted that specific districts of the city are attracting attention.
"There are a lot of Chinese buyers coming into the UK and they all seem to be going for the same central areas - Kensington, Notting Hill, Holland Park," he stated, adding that there has been some "massive activity" in these parts of London, including transactions for "very high-net-worth properties".
Earlier this month, the Knight Frank Prime Central London Index revealed that prices of residential real estate increased by 0.9 per cent in June over the previous month. The company predicted that housing values in the city will continue to grow slowly during the second half of the year, with head of residential research at the firm Liam Bailey commenting that "continued strong conditions" can be expected in the capital's property market over the coming months.