UK/ASIA - British property developers are seeing good results from showcasing London properties to the affluent Asian community via exhibitions.
According to real estate company Frank Knight, Asians have invested a total of £761m (more than US$1bn) over the past year in newly built apartments in central London, up from around £250m a year earlier.
A stream of British companies such as Barratt, Berkeley Group and Ballymore Group have been wooing Asians by hosting exhibitions complete with lawyers and agents on hand.
"The last 12 months have been the strongest in selling London property to Asia in 15 years," said regional director for international properties at Colliers, Darien Bradshaw, which has been marketing flats in Asia via 26 exhibitions this year.
Colliers sold around £200m of British apartments in Asia so far in 2010, to buyers in Hong Kong, Singapore, Malaysia and China. It is planning for another 20 exhibitions moving forward.
"The Hong Kong Chinese and wider Asian markets are very strong at the moment. I think exchange rates are very favourable," said group sales manager of Genesishomes, Simon Howard, at its first ever overseas exhibition in Hong Kong.
Picture courtesy of Channel Four
