London shines for investors in apartments
Wang Shiyu, a doctoral student in London, says he barely needs to speak any English when he meets landlords as he looks for a flat in the city.
"I have been looking on the Southbank for two weeks and hardly speak any English because many of the landlords are from China. Some are even from my hometown, Wenzhou," Wang says.
About 35 percent of buyers of newly developed real estate in Britain come from East and South Asia and Eastern Europe/Russia. Investors from Zhejiang province in China are the biggest group, says the international property consultant Knight Frank. Analysts say veteran real estate investors who favor apartments are shifting their interest to overseas markets, London being a primary focus thanks to the potential for the growth in property prices there.
