Middle East buyers look to London property market as pandemic impact eases

Publish October 10, 2021
real estate

We have seen an influx of Middle Eastern investment into London over the last month.''

DUBAI: The gradual easing of pandemic-related restrictions have led Middle East buyers to seek properties in prime central London, with sales in the first eight months of 2021 surpassing those for the whole of 2020.

According to global property consultancy Knight Frank, sales between January and August this year were up 56 percent, compared with the whole of last year.

“We have seen an influx of Middle Eastern investment into London over the last month, as changes to the travel restrictions have unleashed a huge wall of pent up demand,” Moreas Madani, partner in the prime central London developments team of Knight Frank, said.

Strict travel restrictions, Knight Frank said, have led to pent-up demand, and footfall of Middle Eastern travellers through London's Heathrow Airport has also risen in August since the restrictions were lifted.

“What we’re seeing is Middle Eastern buyers hungry to get back to business. Many have used their time well, taking advantage of the lockdowns and restricted travel to do their research, scope out what is on offer and be ready to move as soon as travel resumes.,” Henry Faun, a partner in the private office, Middle East at Knight Frank said.


Latest Stories

Abu Dhabi hotels post record occupancy in June-

2021-07-14 04:00:00

Abu Dhabi’s hotel industry has reported its highest occupancy since the start of the pandemic, according to preliminary June"...
Read More

Rimini Street UK Recognized in the Top 20 of the 2021 UK’s Best Workplaces™ for Women

2021-07-02 10:00:00
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced it has been recognized in the 2021 UK’s Best Workplaces™ for Women in the medium-sized firm category. This achievement follows a......
Read More

UAE delivers 60,000 COVID-19 vaccine doses to Yemen's strategic island: gov't source

2021-06-20 07:00:00

The United Arab Emirates (UAE) on Thursday dispatched a plane carrying a shipment of 60,000 COVID-19 vaccine doses to war-ravaged"...
Read More

Yemen: Hundreds protest against corruption, high cost of living

2021-06-06 05:00:00

Hundreds of Yemenis in Taiz yesterday protested against corruption and the high cost of living, Anadolu reported.

Read More