London's residential property remains on the list of highly expensive and top-class luxury real estate properties being sold worldwide. According to ReTalk Asia, investors from Asia are keeping a close eye at it. They are attentive of traditional drivers such as historical links, education, and "long-term capital growth" as the reason behind this surge.
Asian investors tend to become one of the biggest investors in London real estate. It is because they want to be closer to universities in London, where they take their children to school. They, in turn, are willing to make an investment into the London real estate market, an investment they clearly see as 'worth it' despite the high price tags.
Brexit is currently on everyone's minds in London, but the Asians, as well as other foreign investors, are looking at it positively. The uncertainty of the situation has made some of the real estate easily affordable for anyone who wants it. This means that people are looking at lots in the 'prime' central London area, as well as in other cities like Manchester or Birmingham.
For others, however, it's simply a case of the fascination with the royal family. NY Times reported that history and a link to a famous person, whether celebrities or royals are a big draw to people looking to live in London or in the UK in general. Properties here tend to have a connection with the royal, more so with people who used to live in them.
Such is the case of a property which also doubles as a historic home of French royalty that overlooked the Seine or a Maltese villa where Queen Elizabeth spent her days as a "young navy wife." There is also the allure of a Berlin apartment complex which is just beside the former imperial palace. History not only exists in the UK but also elsewhere in Europe.
A survey done in 2015 found that most Londoners--about 43 percent of them--wanted to live in a property only because the street sounded like royalty. Places like Royal Drive, Queen's Place, or King's Crescent had a big draw to them, notwithstanding its actual ties to any past or future member of the royal family.
Perhaps, this is also what goes on in the minds of foreign investors. No matter what its name or how small or large an apartment complex is, London is still as good a place as any to live in.