For many international real estate investors, London is no longer the place to be. Since the UK voted to leave the EU in June, investment flows into London commercial property have dropped to less than half their level of a year earlier.
But one group of investors is proving markedly less pessimistic: buyers from China and Hong Kong, who have continued to snap up trophy assets in the City of London and the West End, largely undeterred by Brexit.
Peter MacColl, head of global capital markets at the property advisers Knight Frank, describes a “surge of Chinese money” into UK property, including cash from state-owned enterprises, corporations and ultra-wealthy individuals.
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