Almost 75% of purchases of elite housing in London in 2011, aliens

Almost 75% of transactions on purchase of elite residences worth between 5 million pounds in Central London in 2011, foreign buyers, study says the elite real estate agency Savills.

According to the company, in the segment housing premium value of 1 million pounds in the Centre of the British capital in overseas buyers last year accounted for about 55% of all purchases, while in 2010, compared with 52%.

In particular, the share of European buyers in the market of elite residential real estate Central London rose from 13.2% in 2010, up to 19.5 per cent in 2011, and the percentage of buyers from the Middle East, which in 2010, 7.6%, increased to 8.5%.

"The best objects in the most attractive areas of London went up to the status of international asset and assessed as sufficiently secure attachment in the current unstable economic situation in the world",-explains the interest of foreigners to housing experts of premium-class in central parts of the city.

In their view, large-scale investments by foreign buyers have resulted in a significant increase in the price of elite real estate in the heart of London, the year they grew by 14.1%, while in 2010, this figure was only 7.2%.

The ultra-a bonus segment, where the average cost of objects exceeds 15 million pounds, in 2011, a record price increases were recorded at 18.6%, draws the attention of the specialists of Savills.

At the same time, the areas of the city, dominated by British buyers, especially the premium segment of the Southwest District of Wandsworth and Clapham and Richmond before Wimbledon, showed a lower level of increase in the cost of luxury housing last year, analysts underline.

According to experts, annual prices for premium real estate in Southwest London grew half than in the Centre at 7.1%.

"Restoration of prices in these areas was maintained throughout 2009 and 2010, the capital City of which, the financial sector and the economy as a whole, as well as bonus payments top-managers, in particular",-explained the study company.

The current unstable economic situation led to the sources of income of British buyers have become less certain, and the overall situation in the market of premium real estate began to hand over positions are summarized in the report.