Thornsett Group

Investors Interested in London Property Market

Despite the uncertainty brought about by the economic crisis and unrest in British cities, it would appear nothing can hurt the London property market, especially the luxury sector. Savills have reportedly sold over 260 properties which are priced in excess of €5.7 million, this year. This is a third more than the same period last year. So far this year the prime market has realised €3.4 billion which is estimated to reach nearly €5 billion by the end of the year. The market is naturally dominated by foreign investors, with six out of every ten buyers coming from abroad. It would appear that the higher the property price the higher this statistic. Prices of high end properties have seen a rise of 14% compared to last year and properties with a value greater than €11 million had increased by almost 25%.

Thornsett Group currently offers a residential project on Fulham Road in Chelsea, which they have released specifically to Hong Kong buyers. The 56 apartments will cost from €600,000 to €1.6 million and nearly half will have private terraces or gardens. Thornsett commented that the Asian demand for properties in London is very high which is why they chose to launch to the Hong Kong market.

The development is close to the home of Chelsea FC (who are currently considering moving the club to a new stadium). However this will probably have little effect on Thornsett who have probably already found enough Hong Kong buyers.