According to Knight Frank’s latest report which looks at leading markets around the world, prime central London property market remains… ‘a stellar performer’… ‘outperforming New York and Paris’… ‘a much more consistent and less volatile performer’. Of the leading markets, Hong Kong and Singapore are currently attracting the attentions of some investors but do not match what London has to offer.
‘Both Hong Kong and Singapore’s housing markets react dramatically in times of economic uncertainty and they saw prices plummet 50 per cent and 77 per cent respectively in one year, during the credit crunch. This compares with just 11 per cent in prime central London.’
‘The (UK) Chancellor’s recent decision to exclude bona-fide businesses from the (recent) tax rise, in recognition of the multi-billion contribution the sector makes to the UK economy, should bring in vital inward investment again.’