January 2013

Overseas buyers hungry for London new-build

The FT reports that overseas investors’ appetite for London property sharpened in 2012, as foreign buyers poured £2.2bn into new-build homes, up from £1.8bn in 2011.

Singapore and Hong Kong led the field, with a 23 and 16 per cent share respectively of the central London new-build market, research by Knight Frank, a property agent, showed.

British buyers remained the largest group in the new-build market, accounting for 27 per cent of transactions last year, roughly similar to 2011 levels. But the number of other nationalities buying “off-plan”, or before a property was built, in London rose from 43 to 52, Knight Frank said.

London’s position as an international financial centre, as well as its schools and universities, were key factors attracting foreign buyers.

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Nuno Mendes’ Guide to Broadway Market

The acclaimed chef of Bethnal Green’s Viajante (1 Michelin Star), Nuno Mendes gives a tour of his favourite destinations on Broadway Market. Included in Nuno’s guide is Yum Buns who have a stall in Broadway Market Schoolyard and whose steamed pork buns are attracting foodies from far and wide to E8.

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